Aug. 1 at 5:11 PM
$JNJ by the numbers on the daily chart.
Last close
$256.35, up 0.2% on the session, below its 20 day average (
$257.79) but still above the 50 day (
$245.20), a pullback inside a larger uptrend until proven otherwise. RSI reads 52, neutral territory. The 3 month range runs
$220.37 to
$274.90, and the close sits 6.7% off that high. Over the last 10 sessions, 72% of the volume traded on up days, so the buying had the participation.
Why volume matters next to price: a move on heavy volume had participation, a move on thin volume is easier to unwind. The same candle means different things at 0.5x and 2x average volume.
The options tape adds context today:
$3.2M in notable JNJ premium, 100% bullish.
