Don't Ignore This Chart

JNJ Jumps To An All Time High

 | 

JNJ pushed above and closed at a new all time high so far this week. WIth the market under some selling pressure on Thursday, JNJ still closed above previous All Time Highs.

If the market was to start taking on a defensive posture, this stock in the Healthcare area could work well in that environment. Healthcare is one of the defensive sectors. The volume has been strong the last two weeks and will probably push to a stronger volume than the last 4 weeks with Friday's action.

Lately Healthcare, Utilities and Consumer Staples have been some of the top performing sectors.

With the Weekly MACD turning up and volume starting to kick in, this stock looks well supported here.Enjoy the weekend.

Good trading,
Greg Schnell, CMT, MFTA

 

Enjoy this article? Hear more from Greg Schnell at

August 10th & 11th, 2018


See how the experts are protecting themselves from market volatility and reducing risk in uncharted waters

Join us online this August for two full days of investing insights, charting wisdom and market commentary from the industry's leading technicians. Streaming live wherever you are, you'll learn exactly how the experts are navigating the market's changing tides and remaining profitable in all conditions.

Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is also the author of Stock Charts for Dummies (Wiley, 2018). Learn More
Subscribe to Don't Ignore This Chart to be notified whenever a new post is added to this blog!
comments powered by Disqus