Johnson & Johnson (JNJ) Elliott Wave Analysis: TrandingLounge Daily Chart
This Elliott Wave analysis for Johnson & Johnson (JNJ) provides a detailed overview of the stock's trend direction and potential price movements on both the daily and 1-hour charts. This analysis is essential for traders aiming to grasp the market structure and identify potential trading opportunities.
JNJ Elliott Wave Technical Analysis
Johnson & Johnson (JNJ) Daily Chart Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave {iii} of 1
Direction: Upside into wave 1
Details: A top in wave {iii} is anticipated soon, as the subdivision appears to have completed a five-wave move within {iii}.
JNJ Elliott Wave Technical Analysis – Daily Chart
Johnson & Johnson (JNJ) seems to be approaching the latter stages of wave {iii} of 1. The structure indicates a five-wave subdivision within wave {iii}, suggesting that this wave might be nearing its completion. Once wave {iii} concludes, a corrective wave {iv} is expected before further upside momentum continues in wave {v}.
JNJ Elliott Wave Analysis: 1-Hour Chart Overview
Johnson & Johnson (JNJ) 1-Hour Chart Analysis
JNJ Stock Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave (v) of {iii}
Direction: Upside in wave v of (v)
Details: A triangle pattern in wave iv suggests a potential upside in wave v during today's session, with the price developing just below the $165 level.
JNJ Elliott Wave Technical Analysis – 1H Chart
The 1-hour chart indicates that Johnson & Johnson (JNJ) is within wave (v) of {iii}. A triangle pattern seems to be forming in wave iv, which typically signals consolidation before the final upward move. This pattern implies that JNJ might experience further upside in wave v of (v), with a potential break above the $165 level during today's trading session.
Technical Analyst: Alessio Barretta
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