Nov. 15 at 9:55 PM
$JNJ Trade Plan:
Market Context: The last close at
$195.93 is near the 60D high of
$197.18, indicating a potential resistance level. The RSI of 63.32 suggests the stock is nearing overbought territory, which may limit upside potential in the short term.
Directional Bias: The stock shows bullish momentum as it is above both the 30-day moving average (MA30) of
$190.35 and the 50-day moving average (MA50) of
$185.84. However, the high RSI indicates caution, as it may lead to a pullback.
Suggested Entry: Consider entering a long position if the price breaks above
$197.18, confirming upward momentum.
Stop: Set a stop loss at
$192.00 to manage risk.
Targets: First target at
$200.00, aligning with psychological resistance. Second target at
$205.00, based on potential continuation of bullish sentiment.
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