Johnson & Johnson
Shares of JNJ fell so quickly that its weekly chart is now negative.
The stock is reasonably priced with a p/e ratio of 18.83% with a dividend yield of 2.47%, according to Macrotrends. JNJ has beaten earnings-per-share estimates for at least 36 consecutive quarters.
The Daily Chart for Johnson & Johnson
Johnson & Johnson has been above a golden cross for more than 52 weeks. A golden cross occurs when the 50-day simple moving average rises above the 200-day simple moving average. This happened on December 24, 2019, at $145.93.
At the far left of the chart, note that JNJ tracked around its 200-day simple moving average, which was $144.70 on November 30, 2020. This was a buy level. The stock has been above this moving average since then with the average now a support at $164.19.
The upper most horizontal line is the monthly risky level for September at $176.20. The two horizontal lines at the center of the chart are the quarterly and semiannual value levels at $160.08 and $158.61, respectively. Above the chart and not shown is the annual risky level at $184.01.
The Weekly Chart for Johnson & Johnson
The weekly chart for Johnson & Johnson ended last week negative. The stock is below its five-week modified moving average at $171.94. The stock is well above its 200-week simple moving average or reversion to the mean at $143.22. The 12x3x3 weekly slow stochastic reading is declining at 73.56.
Trading Strategy: Buy JNJ on weakness to its quarterly and semiannual value levels at $160.08 and $158.61. Reduce holdings on strength to its monthly risky level at $176.20.