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Johnson & Johnson, Technical Analysis

2/13/2023 10:02 AM

The shares of Johnson & Johnson, one of the world's leading retail holdings, are correcting at 162.00.

On the daily chart, the price is declining within a downtrend, almost reaching the global low of last September at 160.00.

On the four-hour chart, the consolidation below the key level of 160.00 will become a marker for the transition of the corrective decline into a trend with further movement to levels around 150.00, and if it is held, a local increase to the high of the end of January at 169.00 is possible.

Technical indicators keep a stable sell signal: the EMA fluctuation range on the Alligator indicator expands downwards, and the AO histogram forms downward bars, moving away from the transition level.

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