On Friday, July 21st, 2023, Johnson & Johnson (JNJ) saw a positive increase in its stock price, gaining 1.07% and rising from $168.38 to $170.19. Throughout the trading day, the stock experienced fluctuations, ranging from a low of $168.16 to a high of $170.82, representing a 1.58% swing. Over the past two weeks, the stock has shown a gain of 6.87%.
The trading volume decreased by -12 million shares on the last day, with a total of 10 million shares being bought and sold, resulting in transactions valued at approximately $1.69 billion. It is important to note that a decline in volume during price increases can indicate divergence and serve as an early warning for possible changes in the coming days.
Based on the current horizontal trend, it is predicted with a 90% probability that Johnson & Johnson's stock will trade between $155.78 and $171.14 at the end of the upcoming three-month period. Breakouts from horizontal trends are often accompanied by a substantial increase in volume, and stocks rarely move directly from the bottom of a trend to the top. Stocks that turn upward in the middle of a horizontal trend are considered potential runners.
As for signals and forecasts, Johnson & Johnson's stock holds buy signals from both short and long-term Moving Averages, indicating a positive outlook. Additionally, there is a general buy signal derived from the relation between the two Moving Averages, with the short-term average positioned above the long-term average. In the event of downward corrections, the stock is expected to find support at $162.02 and $161.51. A breakdown below these levels would issue sell signals. On May 26, 2023, a buy signal was issued from a pivot bottom point, resulting in a 10.26% increase thus far, and further growth is projected until a new top pivot is identified. However, the current 3-month Moving Average Convergence Divergence (MACD) indicates a sell signal.
Regarding support, risk, and stop-loss levels, Johnson & Johnson finds support from accumulated volume at $168.38, suggesting a potential buying opportunity as the stock is tested against this level. Generally, the stock exhibits controlled movements and possesses good liquidity, resulting in a considered low risk. The stock's daily average volatility for the last week has been 2.24%. A recommended stop-loss is set at $164.57 (-3.30%) based on a buy signal from a pivot bottom found 37 days ago.
Expectations for the upcoming trading day of Monday, July 24th, 2023, anticipate Johnson & Johnson to open at $169.72 and move within the range of $167.60 to $172.78 throughout the day, considering the 14-day Average True Range. This gives a potential trading interval of +/- $2.59 (+/- 1.52%) from the last closing price. If Johnson & Johnson exceeds the calculated swing range, there could be an estimated 3.04% movement between the lowest and highest trading prices during the day.
With no resistance above and support from accumulated volume at $168.38, which is $1.81 (1.06%) below the current price of $170.19, the risk-reward ratio appears attractive.
Insider trading activity indicates a positive sentiment, with insiders buying more shares than they are selling in Johnson & Johnson. Over the last 100 trades, there were 950.1 thousand shares bought and 114.64 thousand shares sold. The latest trade, made 42 days ago by Wengel Kathryn E, involved the sale of 12.47 thousand shares. The significant amount of stocks bought compared to those sold suggests that insiders believe there is potential for substantial upside. In some cases, larger purchases may be attributed to due dates for stock options.
The trading volume decreased by -12 million shares on the last day, with a total of 10 million shares being bought and sold, resulting in transactions valued at approximately $1.69 billion. It is important to note that a decline in volume during price increases can indicate divergence and serve as an early warning for possible changes in the coming days.
Based on the current horizontal trend, it is predicted with a 90% probability that Johnson & Johnson's stock will trade between $155.78 and $171.14 at the end of the upcoming three-month period. Breakouts from horizontal trends are often accompanied by a substantial increase in volume, and stocks rarely move directly from the bottom of a trend to the top. Stocks that turn upward in the middle of a horizontal trend are considered potential runners.
As for signals and forecasts, Johnson & Johnson's stock holds buy signals from both short and long-term Moving Averages, indicating a positive outlook. Additionally, there is a general buy signal derived from the relation between the two Moving Averages, with the short-term average positioned above the long-term average. In the event of downward corrections, the stock is expected to find support at $162.02 and $161.51. A breakdown below these levels would issue sell signals. On May 26, 2023, a buy signal was issued from a pivot bottom point, resulting in a 10.26% increase thus far, and further growth is projected until a new top pivot is identified. However, the current 3-month Moving Average Convergence Divergence (MACD) indicates a sell signal.
Regarding support, risk, and stop-loss levels, Johnson & Johnson finds support from accumulated volume at $168.38, suggesting a potential buying opportunity as the stock is tested against this level. Generally, the stock exhibits controlled movements and possesses good liquidity, resulting in a considered low risk. The stock's daily average volatility for the last week has been 2.24%. A recommended stop-loss is set at $164.57 (-3.30%) based on a buy signal from a pivot bottom found 37 days ago.
Expectations for the upcoming trading day of Monday, July 24th, 2023, anticipate Johnson & Johnson to open at $169.72 and move within the range of $167.60 to $172.78 throughout the day, considering the 14-day Average True Range. This gives a potential trading interval of +/- $2.59 (+/- 1.52%) from the last closing price. If Johnson & Johnson exceeds the calculated swing range, there could be an estimated 3.04% movement between the lowest and highest trading prices during the day.
With no resistance above and support from accumulated volume at $168.38, which is $1.81 (1.06%) below the current price of $170.19, the risk-reward ratio appears attractive.
Insider trading activity indicates a positive sentiment, with insiders buying more shares than they are selling in Johnson & Johnson. Over the last 100 trades, there were 950.1 thousand shares bought and 114.64 thousand shares sold. The latest trade, made 42 days ago by Wengel Kathryn E, involved the sale of 12.47 thousand shares. The significant amount of stocks bought compared to those sold suggests that insiders believe there is potential for substantial upside. In some cases, larger purchases may be attributed to due dates for stock options.