JNJ 200MA Trade
Updated
JNJ has bounced off the 200MA. The last two moves pushed slightly through it, hence my entry at 137 for another touch, with a stop of c.1% (135.50) below the MA and parallel channel line, and a modest target of 143, the Sep 18 high, giving a 4:1 trade.
The 2018 price/action below the MA shows this stock does take that indicator into account. Note also a fairly good match to the previous climb.
The 2018 price/action below the MA shows this stock does take that indicator into account. Note also a fairly good match to the previous climb.
Trade closed: stop reached
Trade would have worked, but for 'Sell in May'
David Atherton
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