Jonson Jonson (NYSE)

#JNJ

The general trend is ascendant. The descending wave structure is truncated. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions.

Trade idea:

Buy when the ascendant wave structure forms where the wave (A) breaches the inclined channel of the descending wave structure.

Stop loss below the local minimum of the ascendant structure.

Target levels: 170.50; 173.50.