Johnson & Johnson produces pharmaceuticals and consumer goods with a strong global reach. Johnson & Johnson has a diverse product portfolio. JNJ distributes its products in more than 175 countries.
JNJ has huge growth potential in the pharmaceutical sector. It delivers consistent returns to its investors over time and is a trustworthy company with solid fundamentals and a strong earnings history.
The price data of the JNJ stock shows that it is in a rising trend right now. The stock has a profit margin of 13.22%. JNJ is doing well at the moment. It rose from a low of $150.11 in the past 52 weeks to a high of $181.04.
The JNJ stock provides some great returns to investors. The current market mood is very optimistic about the stock. The average volume in JNJ for the last 3 months is $7.94 Million. Buyers are attracted to the stock in the current market situation.
The volume of the stock has increased significantly. JNJ’s volume was $15.68 Million for the last 10 days. JNJ has a dividend yield of 2.80%.
JNJ Stock Price Technical Analysis
The price has bounced off its major trendline support and is heading to the resistance level of $174.40. The price may rise to the next resistance level if it breaks the trendline. The price may fall back to the current support if it faces any resistance.
The price of JNJ is in a bullish trend as it has broken above 50 and 200 EMAs. The stock may rise further next week if the buyers maintain the momentum. The price has consolidated near the 200 and 50 day EMAs and then breached both, indicating that the bulls have regained power.
The MACD is positive at 2.61 and above the signal line at 2.21, signaling more upside potential.
The RSI is at 59.37 points and above the 50 level, suggesting that the market is bullish. The 14 SMA line is also above the middle line at 61.61 points, confirming the bullish momentum. The market is optimistic as the price is in an overbought zone.
Summary
JNJ stock price is moving upwards. The price may rise further in the next few days if it breaks its main trendline resistance level. JNJ’s price is showing a positive scenario right now. Key indicators – EMA, RSI, and MACD – are bullish on JNJ Stock. The investors are optimistic because of the strong performance of the stock. There is an increase in the demand for Johnson & Johnson stock in recent days. Johnson & Johnson is a long-term investment that can create wealth for its investors.
Technical Levels:
Support – The current support level of JNJ is $175.30.
Resistance –The current resistance level of JNJ is $150.19.
Disclaimer
The analysis given in this article is for informational and educational use only. Do not take this information as financial or trading advice. Trading and investing contain financial risk. Before making any investment or trading decision, please consider your risk profile and circumstances.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/08/03/jnj-stock-price-prediction-is-jnj-good-investment-for-2023/