Mid Term J&J sketch.
Johnson & Johnson. Post close of NYSE -1/26/2021.
My sketch of J&J indicates:
[1] that we have broken above LT trend line and have gained momentum ahead of ST Trend line.
[2] we have a perfect FB setup with a Retrace to? 0.5 is my guess.
[3] interested to see if Momentum indicates a strong trend redirect and the beginning of a fourth EW.
Note: I did not use support / Resistance in this chart but may take a look tomorrow at shorter time frame to see where the daily traders are pressuring.
Cheers !
My sketch of J&J indicates:
[1] that we have broken above LT trend line and have gained momentum ahead of ST Trend line.
[2] we have a perfect FB setup with a Retrace to? 0.5 is my guess.
[3] interested to see if Momentum indicates a strong trend redirect and the beginning of a fourth EW.
Note: I did not use support / Resistance in this chart but may take a look tomorrow at shorter time frame to see where the daily traders are pressuring.
Cheers !
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