JNJ 1.272 Fib Ext Target Identified

JNJ which is a component of the DOW is scanning on A6 with a short squeeze setup. Using Fib extension 1.272 target, a price target has been identified to be approx $175. This extension was developed using the March 4th and 29th lows and highs, respectively. A6 scanning implies there is news being priced in and perhaps JNJ may announce or report new drug studies that could ignite the price to push toward the 2.618 fib ext which is $186. If this is the case, then JNJ may as well run toward a psych tgt of $200 sometime within the next 14 to 34 trading days.