Live monitoring of the Descending Triangle setup on JNJ. See where price is heading.
Bearish continuation pattern.
Sideways movement between parallel supports.
Consolidation. Can break either way.
Bearish continuation if preceding move was down.
A clear signal has emerged for Johnson & Johnson (JNJ) on the daily chart. The stock is trading at $230.35, up 0.45% on the day. The primary technical feature is a Bearish Flag formation. The trend indicator is reading 11.6/100, suggesting moderate momentum. A potential breakout level is identified at $220.37, targeting $189.03 with support near $232.14 (R:R 2.66).
What is your outlook on JNJ?