JNJ, waiting for the breakout

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JNJ is consolidating the previous bullish movements by moving in a sideways parallel channel. If the stock breaks lower the minimum target is around 126 and if the bearish movement goes on the T2 would be around 122. If the stock breaks higher, then the target is around 144. The breakout must be confirmed by very high volume. If it doesn't, it may be a fakeout.

The informations and the strategies discussed are strictly for educational and illustrative purposes. They are not a
recommendation to buy, sell or trade any securities.