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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts -- Ignore unavailable to you. Want to Upgrade?


To: tntpal who wrote (37942)9/26/2021 10:02:21 AM
From: ajtj992 Recommendations

Recommended By
sunabeach
tntpal

  Read Replies (1) | Respond to of 70873
 
On the daily chart, I do believe JNJ is at or close to a bottom. It might have a bear flag that breaks to $160 coming yet. The box runs from $160 to $170. However, I don't think it's going above $170 for at least 9-months, if that.

schrts.co

Just what I see. It's worth what you paid for it.



To: tntpal who wrote (37942)9/26/2021 10:15:30 AM
From: sunabeach2 Recommendations

Recommended By
ajtj99
tntpal

  Respond to of 70873
 
No firm opinion (don't trade equities) either way but daily chart has momentum that is clearly bearish (also on weekly) though on the bullish side it has landed on 100% projection of prior large downswing, TD Buy Setup and True Strength Index turning up. R/R scenarios are kind of meaningless to me. The trade either does or not not make sense from a PA standpoint and is all that matters. This one, to me at least currently, is a coin flip, until at least indexes resume uptrend. Maybe it is a rotation play away from tech but FA, like stocks, is also not my thing.

YMMV



To: tntpal who wrote (37942)9/26/2021 11:57:49 AM
From: Jacob Snyder2 Recommendations

Recommended By
ajtj99
tntpal

  Read Replies (1) | Respond to of 70873
 
JNJ: Of it’s 3 divisions, the only one growing is pharma. There is a global movement by governments to force lower drug prices. This is happening in Europe and China, but not yet in the US. When it comes here (our version of Common Prosperity), JNJ will have a much lower PE than the current 25. I will wait to buy pharma till then. The timing on this is uncertain, but the trend is clear. The market is only starting to price this risk in.