Stock of the Day: Johnson & Johnson

In today’s stock of the day, let’s take a look at Johnson & Johnson, which is showing a very clean and repeatable technical structure.

The stock is in a solid uptrend, and what stands out most is how orderly the corrections have been.

Each bearish correction has been contained within a red downtrend line. And importantly, every time the price managed to break above that line, it triggered a strong buy signal and continuation of the uptrend.

This pattern has already repeated several times, which makes it highly relevant.

Right now, we are in another correction phase. This one is slightly deeper than the previous ones, but it still fits within the overall structure.

The key level to watch is the upper red downtrend line.

If the price closes above this line, it would once again confirm the pattern and generate a proper long-term signal to go long.

Until that breakout happens, it remains a correction within an uptrend. But based on past behavior, this setup is definitely worth watching closely.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-johnson-johnson-15