The Greedy Trader Weekly Analysis
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Weekly Pattern:Rising Pennant
Number of records: 3
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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 :Overbought sectorBroken trend support lineWeekly  MACD line has moved above its signal line
Daily :Lane's Stochastic is overboughtBroken trend resistance line20 Day Moving Average has crossed above the 50 Day Moving Average
Move cursor over the icon to see details.

It was a second consecutive positive week for the Johnson & Johnson (JNJ). During the week, the JNJ climbed 0.18 points, or 0.14%, and closed at 125.93 on Friday, July 13, 2018. JNJ was trading at average weekly trading volume.

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 97.59 and resistance is at 144.10. 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 August 24, 2015 at 81.79 and reached 148.32 on January 17, 2018. JNJ gained -66.53 points, or -81.34%, in 125 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (143.18) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.

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

During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. 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 May 29, 2018 at 118.62 and reached 128.21 on July 12, 2018. JNJ gained -9.59 points, or -8.08%, in 44 days. The chart has formed a Falling Pennant chart pattern. The uptrend resistance line (120.93) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.

Daily Technical Indicators: [See JNJ daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily 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 link to access Lane's Stochastic help.

The daily MACD line is above its signal line since June 5, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.06
Williams' Percentage Range (W%R) 35.70
Lane's Stochastic (%D-Slow) 87.32
Overbought
Greed/Fear Indicator (GFI) 71.23
Moving Average Converg./Diverg. (MACD) 0.46
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.58
Williams' Percentage Range (W%R) 60.80
Lane's Stochastic (%D-Slow) 45.65
Greed/Fear Indicator (GFI) 44.42
Moving Average Converg./Diverg. (MACD) -2.99
Trading Signals
Description Value Chart
Yearly Trendline Resistance 144.10
Quarterly Trendline Support 143.18
Upper Bollinger Band 128.54
Daily Stochastic Crossing 127.29
Price 125.93
Parabolic System 124.06
20 Day Moving Average 123.56
Weekly Stochastic Crossing 123.38
50 Day Moving Average 123.28
Weekly Trendline Resistance 121.27
Weekly Trendline Support 120.93
Lower Bollinger Band 120.04
Monthly Trendline Support 118.98
Monthly Trendline Resistance 118.73
Sector and Industry
Description Name Rank
Sector Healthcare 9
Industry Drug Manufacturers/Major 103
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 120.11
Low Date 07/02/2018
High 128.21
High Date 07/12/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 121.27
Support 120.93
Low 118.62
Low Date 05/29/2018
High 128.21
High Date 07/12/2018
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 118.73
Support 118.98
High 148.32
High Date 01/17/2018
Low 118.62
Low Date 05/29/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 155.60
Support 143.18
Low 81.79
Low Date 08/24/2015
High 148.32
High Date 01/17/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 144.10
Support 97.59
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.

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