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Johnson & Johnson, Technical Analysis
12/7/2022 10:10 AMShares of Johnson & Johnson, one of the world's leading retail holdings, are correcting at 176.00.
On the daily chart, the price has left the wide downward channel with dynamic boundaries 174.00–150.00, consolidation above the resistance line at 174.00.
On the four-hour chart, the ascending wave looks like an independent corridor with boundaries of 180.00–168.00, within which the trading instrument is preparing for a corrective decline. The consolidation above the local high at 179.00 will mean continued global growth with the target at 183.00.
Technical indicators hold a buy signal but allow for a correction: the EMA fluctuation range on the Alligator indicator is gradually narrowing, and the AO histogram is forming downward bars.
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