Possible perfect gap n go on JNJ
6/2/15: June Wk 2 98/97 BPS $0.12 limit.. JNJ in channel. Looking for bounce off of support.
Johnson & Johnson has seen extreme price consolidation since last November. Since they are a highly diversified healthcare company, currency translations affect their bottom line quite substantially. With the recent contraction of the US Dollar, Johnson & Johnson has broken out of a prolonged trading range. If the dollar continues to contract against other foreign...
JNJ is riding the underside of the 55 moving average on a weekly chart looking to break support floor for a move short - 94.0
JNJ is going sideways. BCS is above the long terms and a strong resistance.
overall trend is bullish so looking for very fast scalp. very risky
The next major weekly(medium term) Support level to watch for J&J. Watch for a rebound or a breakout. Even if witness a breakout, usually short term bounces are highly probable before any sustained breakout. Check my new website thefxchannel.com , vote and subscribe twitter.com My best regards, Technician