Here's Where You Want To Short J&J
InTheMoneyStocks.com | Jun 26, 2017 04:50PM ET
Shares of Johnson & Johnson (NYSE:JNJ) have risen sharply in 2017. The maker of band-aids and other household products is up 23.5% this year. Using a technique called a 'measured move,' I have calculated J&J's maximum upside — the spot where every investor should short it for an easy-money, swing-trade profit as it falls.
To calculate this, you simply take the first move up, which is $28, then add it to the beginning of the second move. Each move should be a total of $28, thus putting the maximum upside at $139. That's where you want to short the stock. The target on the swing-trade short is $130, which will probably hit within weeks of the maximum upside $139 level. Note the chart below for a visual representation of the measured move.
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