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Johnson & Johnson Trading Analysis (30/10/2024)

30.10.2024

Market Review

The trend is ascending. The stock is trading in the range between 365 and 135 ЕМАs. The downward wave structure is truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an oversold condition.

Trading idea:

Buy when the formation of the ascending wave structure begins, when the wave A breaches the sloping channel of the downtrend truncated structure.
Stop-loss at 160.00.
Price targets at 162.70 and 166.00.

#johnsonandjohnson #stock #tradersroom #daytradingpatterns

Author: GC

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