Wed. Feb 21st, 2024

JNJ’s own baby oil might make this stock slip back! Check out the monthly candle chart (+8 years). A 1 year top formation is brushing against the ascending trend line. The arrows indicated the implied measured move added to the breakdown line.

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Here is the weekly candle 5 year chart. We can see the tests of the horizontal support line at 96.

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Zooming in on the daily candle 1 year chart. Price action closing in on another test of the breakdown line.

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My alert is set. I’ll wait for it to get triggered and see how much the baby oil made this slip!

Remember a monthly candle close below the breakdown line is necessary o confirm the breakdown and it’s implied target at 82.50.