Johnson And Johnson Shares Expected To Move Upwards
| Oct 18, 2021 09:25AM ET
If we look at the Johnson & Johnson (NYSE:JNJ) daily chart, we can see it’s been trading in an uptrend for the past 6 months, until it reached its all-time high of $179, mid-August, but since then it experienced a slow and steady 12% decline from its highs to its current trading level of $161.
JNJ has scheduled a third-quarter earnings announcement on Tuesday Sept. 19. If the earning expectations are surpassed, we could expect the price to move upwards, towards the $166 price level.
Today we could expect a further consolidation at the current level and possibly move towards the $163 range.
If however, it fails to hold above the current price range of $161 then a case can be made for moving towards the next support level at $157.
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