Categories: Technical analysis

Johnson & Johnson Wave Analysis – 24 April, 2020

  • Johnson & Johnson broke pivotal resistance level 153.80
  • Likely to rise to 160.00

Johnson & Johnson recently broke above the pivotal resistance level 153.80 (former multi-month high from the start of February)

The breakout of the resistance level 10.00 strengthened the bullish pressure on Johnson & Johnson – accelerating the active medium-term impulse sequence (5).

Johnson & Johnson is expected to rise further toward the next resistance level 160.00. Strong support now stands at the aforementioned price level 153.80.

 

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: JNJ

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