The Greedy Trader Weekly Analysis
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Weekly Pattern:Rising Pennant
Number of records: 3
Symbol:  

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Chart Analysis and Chart Pattern Recognition – Bear Flag, Bull Flag, Bearish Pennant and Bullish Pennant.

Bear flag, bull flag, bearish pennant and bullish pennant chart patterns represent brief pauses after sharp moves in a dynamic market. They are considered as most reliable continuation patterns. Flags are characterized as short-term channels slanting against the main trend. Pennants represent short-term triangle formations. Volume is heavy during the sharp move preceding the formation.
Trading technique:
# 1 Flags and pennants present an additional opportunity to enter the dynamic market.
Tips:
# 1
Usually flags and pennants represent short-term pauses technically required to reset overbought/oversold technical indicators and allow further movement. They likely to appear at earlier stages of the larger patterns, when short-term technical indicators are grossly overbought/oversold, but long-term indicators are in the middle range. In a situation when both long and short-term indicators are overbought (oversold), flags and pennants have more chances to become the beginning of a larger formation. Flags and pennants are considered invalid as soon as they break the parent's formation trend line.
# 2 As a continuation pattern, rectangle usually appears within a young trend characterized by neutral long-term indicators and overbought/oversold short-term indicators. Rectangle resets daily CTI to neutral and then continues the movement in parent's direction.
# 3 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: projected support/resistance level of larger trend.

Johnson & Johnson
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Summary:
Weekly :Oversold sectorTrend resistance at 138.54Price is near the Fibonacci 23.6% retracement level
Daily :Daily  MACD line has moved above its signal linePrice is near the Fibonacci 23.6% retracement level
Move cursor over the icon to see details.

It was a third positive week after 4 consecutive negative weeks for the Johnson & Johnson (JNJ). During the week, the JNJ climbed 0.61 points, or 0.44%, and closed at 140.59 on Friday, December 08, 2017. JNJ was trading at average weekly trading volume.

JNJ is a member of Healthcare Sector. Healthcare is the most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See JNJ long-term trend chart]
A long-term uptrend had started on March 9, 2009 at 46.25 and reached 144.35 on October 23, 2017. JNJ gained -98.10 points, or -212.11%, in 450 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (138.54). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See JNJ medium-term trend chart]
A medium-term uptrend had started on September 29, 2017 at 129.05 and reached 144.35 on October 23, 2017. JNJ gained -15.30 points, or -11.86%, in 3 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Weekly Technical Indicators: [See JNJ weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since October 13, 2017. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See JNJ short-term trend chart]
A short-term uptrend had started on November 22, 2017 at 136.60 and reached 141.96 on December 6, 2017. JNJ gained -5.36 points, or -3.92%, in 14 days. Price is near the Fibonacci 23.6% retracement level.

Daily Technical Indicators: [See JNJ daily technical indicators chart]
Daily technical indicators are neutral.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.63
Williams' Percentage Range (W%R) 36.60
Lane's Stochastic (%D-Slow) 62.41
Greed/Fear Indicator (GFI) 62.82
Moving Average Converg./Diverg. (MACD) 0.31
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 67.48
Williams' Percentage Range (W%R) 28.40
Lane's Stochastic (%D-Slow) 66.58
Greed/Fear Indicator (GFI) 65.08
Moving Average Converg./Diverg. (MACD) 3.15
Trading Signals
Description Value Chart
Upper Bollinger Band 141.41
Weekly Stochastic Crossing 141.26
Daily Stochastic Crossing 140.77
Price 140.59
20 Day Moving Average 139.20
Parabolic System 138.81
50 Day Moving Average 138.55
Yearly Trendline Resistance 138.54
Lower Bollinger Band 137.55
Sector and Industry
Description Name Rank
Sector Healthcare 1
Industry Drug Manufacturers/Major 54
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 136.60
Low Date 11/22/2017
High 141.96
High Date 12/06/2017
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 129.05
Low Date 09/29/2017
High 144.35
High Date 10/23/2017
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 109.32
Low Date 12/07/2016
High 144.35
High Date 10/23/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 81.79
Low Date 08/24/2015
High 144.35
High Date 10/23/2017
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Resistance
Resistance 138.54
Support 94.45
Low 46.25
Low Date 03/09/2009
High 144.35
High Date 10/23/2017
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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