The Greedy Trader Weekly Analysis
Sign In Oct 12, 2018
Skip Navigation Links
   Home
   AnalysisExpand    Analysis
   AlertsExpand    Alerts
   Stock PickExpand    Stock Pick
   MembersExpand    Members
   ResourcesExpand    Resources
   About UsExpand    About Us
TA Search
Weekly Pattern:Rising Pennant
Number of records: 3
Symbol:  

• Symbol Lookup
• Add to Watch List
• Candlestick Patterns - N/A
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals
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
Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Overbought sectorWilliams' Percentage Range and Lane's Stochastic are overbought
Daily :Stochastic has raised above the signal lineThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was a first positive week for the Johnson & Johnson (JNJ). During the week, the JNJ climbed 0.93 points, or 0.67%, and closed at 139.10 on Friday, October 05, 2018. Weekly volume was -21% below average.

JNJ is a member of Healthcare Sector. Healthcare is the most overbought 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 148.32 on January 17, 2018. JNJ gained -102.07 points, or -220.69%, in 462 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 98.84 and resistance is at 153.89. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See JNJ medium-term trend chart]
A medium-term uptrend had started on May 29, 2018 at 118.62 and reached 143.13 on September 21, 2018. JNJ gained -24.51 points, or -20.66%, in 16 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 124.27 and resistance is at 145.63. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See JNJ weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since July 6, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See JNJ short-term trend chart]
A short-term downtrend had started on September 21, 2018 at 143.13 and reached 137.32 on October 4, 2018. JNJ lost 5.81 points, or 4.06%, in 13 days. The chart has formed a Ascending Triangle chart pattern. The trend support level is at 137.30 and resistance is at 140.81. An Ascending Triangle is a variation of triangle formation that has a flat resistance line and rising support line. The higher lows indicate an increasing demand and give the ascending triangle definitive bullish bias. An Ascending Triangle usually represents an accumulation stage in bullish market. An Ascending Triangle is considered to be a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Use the following link to access a Ascending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Ascending Triangle pattern in a short-term trend.

Daily Technical Indicators: [See JNJ daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal.

The daily MACD line is below its signal line since September 24, 2018. This is an indication that the short-term trend is down.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.49
Williams' Percentage Range (W%R) 54.90
Lane's Stochastic (%D-Slow) 41.22
Greed/Fear Indicator (GFI) 44.28
Moving Average Converg./Diverg. (MACD) 1.40
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 77.53
Williams' Percentage Range (W%R) 13.60
Overbought
Lane's Stochastic (%D-Slow) 85.56
Overbought
Greed/Fear Indicator (GFI) 77.26
Moving Average Converg./Diverg. (MACD) 0.91
Trading Signals
Description Value Chart
Yearly Trendline Resistance 153.89
Monthly Trendline Resistance 145.63
Upper Bollinger Band 141.34
Weekly Stochastic Crossing 140.95
Weekly Trendline Resistance 140.81
20 Day Moving Average 139.58
Price 139.10
Daily Stochastic Crossing 138.96
Parabolic System 137.43
Weekly Trendline Support 137.30
Lower Bollinger Band 136.10
50 Day Moving Average 135.86
Monthly Trendline Support 124.27
Sector and Industry
Description Name Rank
Sector Healthcare 9
Industry Drug Manufacturers/Major 152
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 137.32
Low Date 10/04/2018
High 140.25
High Date 10/05/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Ascending Triangle
Status Valid
Resistance 140.81
Support 137.30
High 143.13
High Date 09/21/2018
Low 137.32
Low Date 10/04/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 145.63
Support 124.27
Low 118.62
Low Date 05/29/2018
High 143.13
High Date 09/21/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 148.32
High Date 01/17/2018
Low 118.62
Low Date 05/29/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 153.89
Support 98.84
Low 46.25
Low Date 03/09/2009
High 148.32
High Date 01/17/2018
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.

Copyright© 2004-2016 All rights reserved.