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Johnson & Johnson, Technical Analysis

2/27/2023 10:02 AM

The shares of Johnson & Johnson, one of the world's leading retail holdings, are correcting at 156.00.

On the daily chart, the price is declining within a downtrend, almost reaching one of the March 2021 lows at 154.00.

On the four-hour chart, it can be seen that consolidation quotes below this level is the key marker for the transition to an increase in downward dynamics towards targets around the November 2020 low around 143.00. If the price reverses and consolidates above the September 2022 low at 160.00, a local increase and return to the sideways channel with the boundaries of 159.00–180.00 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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