JNJ has bottomed and can rise by +50%

Johnson & Johnson gives a very clear idea of its trend on the 1M timeframe. The price may be under the 1D MA50 but has reached the bottom of the multi year Channel Up that started at the bottom of the 2008-2009 crisis. Being neutral on the 1M technical outlook (RSI = 45.714, MACD = -1.180, ADX = 20.525) has historically been one of the best buy opportunities, in fact the stock has grown by at least +53.04% three time during that time span. We shouldn't also ignore the fact that the 1M MA100 is still holding and has been doing so since June 2012. We are aiming long term for at least +53.04% again (TP = 220.00).



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