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Johnson & Johnson Correction within the Local Ascending Channel

12/15/2022 2:23 PM

Shares of Johnson & Johnson, one of the world's leading retail holdings, are correcting at 179.70.

Earlier this month, it became known that Johnson & Johnson was suing pharmaceutical giant Amgen Inc. because of a new drug for ulcerative colitis that the corporation believes is a copy of their most successful drug, Sterla, which accounted for 9.1B dollars of total sales of 52.0B dollars this year. Johnson & Johnson accuses competitors of failing to comply with several legal procedures when creating analogs of the drug, but the trial will take place as early as next year. Meanwhile, Amgen Inc. beat a division of Johnson & Johnson to win the right to purchase Horizon Therapeutics Public Ltd. Co for 27.8B dollars.

The dividend payment occurred on December 6, when shareholders received 1.13 dollars per share, which amounted to 2.57% per annum. The financial report will be released on January 24 and is projected to generate a profit of 23.91B dollars, up from 23.79B dollars last quarter.

On the daily chart of the asset, the trading instrument is correcting within the local ascending channel, approaching the resistance line.

Technical indicators keep a buy signal: fast EMAs on the Alligator indicator are above the signal line, and the AO oscillator histogram forms upward bars.

Resistance levels: 181.00, 185.00. | Support levels: 178.00, 173.00.

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