Johnson & Johnson Trading Analysis (11/11/2024)
The trend is ascending. The stock is trading in a range between 365 and 135 ЕМАs. The downward wave structure is truncated. The Stochastic Oscillator signals an oversold condition.
Trading idea:
- Buy at the beginning of the formation of the ascending wave structure, when wave A breaks the sloping channel of the truncated downtrend structure.
- Stop-loss at 155.37.
- Price targets at 161.30 and 166.00.
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