Strong bullish rebound at bottom of the support level
JNJ is eyeing a potential bottoming out action after price action shows strong bullish buying pressure since 10 Jan 2025. Yesterday's bullish candle was stronger than usual and it has closed above the conversion and base line of the ichimoku.
Long-term MACD is still bearish but mid-term Stochastic Oscillator has shown an oversold crossover. Near-term 23-period ROC is back above the zero line.
We could take a buy based on strong buying volume and is at the bottom of the consolidative range.
Long-term MACD is still bearish but mid-term Stochastic Oscillator has shown an oversold crossover. Near-term 23-period ROC is back above the zero line.
We could take a buy based on strong buying volume and is at the bottom of the consolidative range.
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