Technical Analysis for Johnson and Johnson I am going to break down each technical indicator and explain why I think JNJ is a buy.
Trend line; If you look at the trend line, you can see that JNJ has just started to bounce off its highest low for this chart.
Moving Average: Candles are below the moving average and moving closer each 30 min segment as price rises.
RSI: Shows that JNJ is underbought with a relative strength index of 30.
MACD: Moving Average Convergence Divergence, thank God for acronyms! This indicator shows bull and bear strength or in other words, buying and selling strength. With this indicator you can see that the bears or selling power is getting weaker as buying power is getting stronger. Bulls will soon have control causing prices to rise.
Bollinger Bands: These bands show that we are at a low point in price in conjunction with the moving average. The low bands show that we are at a buying point.