JNJ One Last Effort for 180-185?
JNJ is currently at the top of the Bollinger bands and as you can see, every time it goes to the top of the band on the daily chart, it usually drifts back down to the 20 SMA. May see a push for 180 as the price action seemed somewhat strong in the morning of 8/20/21, but died off late into the day.
Long overall, bearish in the short term if it doesn't go up on Monday, will probably drift down to 20SMA before resuming. In the case that it does get momentum to pop on Monday, will probably stall in the 180s as it waits for the moving averages to catch up.
My take is that if it trends down, I would enter at 175+
If it trends up, I would do a short term 180 call with targets 181
Long overall, bearish in the short term if it doesn't go up on Monday, will probably drift down to 20SMA before resuming. In the case that it does get momentum to pop on Monday, will probably stall in the 180s as it waits for the moving averages to catch up.
My take is that if it trends down, I would enter at 175+
If it trends up, I would do a short term 180 call with targets 181
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