JNJ
THE WEEK AHEAD: IBM, JNJ, NFLX EARNINGS; GDXJ, GLD, SLV, GDXEARNINGS
IBM (54/26; Thursday), JNJ (56/23; Tuesday before market open), and NFLX (35/41; Wednesday after market close) announce earnings next week. Unfortunately, all of them have less than ideal metrics for a volatility contraction play (>70% rank/>50% implied), so I'm likely to pass on all of them. That being said:
Pictured here is an IBM 130/135/150/155 iron condor in the August cycle paying 1.53, break evens at 133.47/151.53, and delta/theta metrics of -2.47/2.80. The rank/implied metrics aren't ideal here (<70%/<50%), which is probably why it's also paying less than my idea one-third the width of the wings in credit. I would pass on it if you can't get filled for 1.67 or greater ... .
BROAD MARKET
TLT (31/11)
QQQ (8/17)
IWM (7/15)
SPY (6/12)
EEM (3/16)
EFA (5/10)
Short-term, broad market premium selling is about as crappy as it can get here. Your options are to (a) wait for a pop in volatility; or (b) sell something farther out in time where the expiry implied is higher. I will probably opt for the latter if we don't get an uptick in volatility by July opex, since waiting can be unproductive, particularly if low volatility has infected the entire market and it becomes a "protracted thing."
SECTOR EXCHANGE-TRADED FUNDS
Premium selling opportunities are in gold and the miners for yet another week ... .
Top 5 By Rank: GDXJ (73/34), GLD (72/15), SLV (70/20), GDX (45/28), and TLT (31/11). Metrically, the most "ideal" play is in GDXJ (exchange-traded fund ideals: >50% rank/>35% background), although we're getting somewhat short in duration for another play in the August cycle. There isn't a September expiry available yet (there will probably be one after July expires), so it might be worth a look at GDXJ next week should volatility hang in there for a September play.
IRA TRADES
Not doing a ton here beyond managing my covered calls post-opex. Stuff on my shopping list (XLU, XLP, HYG) has all ground higher along with the rest of the market, so I just have to patient for another one of those December style "sell everything" dips or a major uptick in volatility in those instruments.* Although I have "not a penny more" short puts on in HYG, both XLP and XLU are out of range of that kind of play, it seems, unless I want to go far out in time and get paid very little ... .
* -- XLU (10/14), XLP (29/11), HYG (13/6).
Potential Buy for JNJ Great potential dip buy opportunity for Johnson and Johnson. Wait for confirmation of higher highs and and higher lows before taking trade. Once it has reversed into an uptrend trend, trade can yield a potential 5-8% return.
Shorting JNJ sharesOn the daily chart, the instrument has started a new bearish trend as the price is moving under the Alligator indicator with AO below the zero line after divergence in the correction. I expect the price to continue the downfall if we break the recently formed sell fractal. My TP and SL levels are marked on the chart.
JNJ: Stuck in a trading range, buybacks are supporting the stockA weekly chart reveals the long-term trading range in which JNJ has been stuck. This Dow component ran up due to buybacks around the start of this year. But the trend and volume-based indicators show a lack of quiet accumulation by Dark Pools. The stock slid down ahead of its earnings release today and gapped up slightly on the report, but there has been considerable profit-taking today as well. So JNJ remains bound in a narrower range just below the trading range highs, where it could languish for some time.
JNJ LOngBouncing off the channel and trying to defend the 100 ema #technicalanalysis #chartpatterns #Gann #JNJ
JNJ - Weekly Review Feb 25 - Mar 01Weekly Outlook chart is in the related ideas. JNJ ran up on the first day of the week. Couldn't hit daily profit target and sold off after hitting the upper trend line of the channel, pulled back the next couple of days and then made a move up and hit both daily and weekly profit targets before selling off and then finally on Friday it broke and closed above the targets finding resistance on the monthly resistance.
$JNJ - Weekly Outlook Feb 25 - Mar 01$JNJ is in a up trending channel and pushing against the upper trend line of the channel. I am seeing resistance area at 137.80 - 138.30. It bounced off daily support nicely and headed straight up. I feel confident it will hit the first profit target 137.80 early next week. This is where you should be taking profits if you are in JNJ. If JNJ runs next week, second profit target 139.55 is also possible.
I got into JNJ when I saw it successfully bounced off support and I will exit my position when it hits 137.80 which could be Monday or Tuesday (unless for any reason market sells off at the start of the week). For a longer-term JNJ perspective, Mar 04 looks to be the date when FDA is expected to give its approval on the JNJ's new depression drug. Once approved, JNJ can see a decent pump.
US-China trade news can make it go in either direction. Deadline of Mar 01 is next week. Next week is news critical. Markets will make moves depending on what kind of trade-related news we get.
If you would like me to analyse a stock ticker, please feel free to mention in the comments.
News article for JNJ's new depression drug: www.businessinsider.com
JNJ Closed above the 20Week Moving Average bullish RSI-LongJNJ Closed above the 20week moving average,
has a bullish RSI divergence above 50 and
has a J-hook pattern.
Immediate target is 150 area and short to intermediate
price target appears to be 162.97-167 within a parallel
channel. 02/15/2019, Moody's maintains AAA rating
with rising revenue. After many years, TALC issues
are baked in. Evidence is earnings jump, buyouts, Apple deals, New Depression drug
with major Future cash flows and new revenue streams ahead.
Latest market decline had little impact on JNJ.
The worst appears behind JNJ with growing revenues.
JNJ SELL (JOHNSON & JOHNSON)Hi there. Price is forming a continuation pattern to the downside. Wait for the price to complete the pattern and watch strong price action for sell.
For longer term, wait for the price to hit the bottom of the bigger pattern and watch strong price action for buy.
JOHNSON & JOHNSON (JNJ): ABC Correction In Progress?Find Winning Trades In Seconds >> efcindicator.com (Special Discount)
We just saw a submerged crossover bear flag (white bar). This corroborates with the continuation of ABC correction.
JNJ Approaching Support, Potential Bounce! JNJ is approaching our first support at 117.78 (horizontal overlap support, 100% fibonacci extension, 50%, 23.6% fibonacci retracement) where a strong bounce could occur above this level pushing price up to our major resistance at 136.78 (horizontal pullback resistance, 61.8% fibonacci retracement, 61.8% fibonacci extension).
Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce in price.
Dow Stocks Johnson & Johnson (JNJ)A look at JNJ, A lot more weekly and monthly points where I see some resistance happening
JNJ Approaching Resistance, Potential Drop! JNJ is approaching our first resistance at 132.37 (horizontal pullback resistance, 61.8% Fibonacci extension, 23.6% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 119.46 (horizontal swing low support, 100% Fibonacci extension).
RSI (89) is also seeing a bearish exit and we might see a corresponding drop in price.
JNJ - JOHNSON AND JOHNSON GOING FOR ONE MORE WAVE DOWN?JNJ has broken the main uptrend with a strong impulse. If it bounces to the level posted on chart i'm expecting one more wave down.
JNJ 60 Min - Bullish Cypher Pattern - Long SetupJNJ 60 Min Bullish Cypher Pattern - Long Setup
Bullish Cypher has been detected on JNJ 60 Min.
Price bounced several times about 141.95
Enter LONG JNJ at @ 142.7 with a stop loss going at @ 141.0. The first target is at @ 144.5 and the second target is at @ 146.20.
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JNJ: All roads lead to 147It is crystal clear from this chart and various types of analysis that JNJ is in a zone that will probably lead to at least the 147 range. We can see a shaded channel that the stock has been ascending in for several months. We can also see that volume has been steadily increasing at a sustainable pace. From the wave count (please study Elliot Wave theory if you don't understand this) it is clear that there is a 70% chance JNJ will top out between 148.28 and 156.58 using Fibonacci levels derived from wave 3- trough to peak, and wave 4- peak to trough. Based on the standard assumption that the fifth wave will be more or less equal to the first in magnitude this would project a conservative target of at least 147 coinciding with the channel. Lastly please note that stocks and markets in general respect support and resistance levels- not specific time frames with the point being that I don't know when this price will likely be reached, just that its probably coming. Needless to day nothing is ever certain in trading so always manage risk and deal in probabilities, good luck.
Please feel free to leave feedback, questions and criticisms welcome.
Buy the dip on #JNJMy custom built "buy the dip" indicator started to give BUY signals on #JNJ a few days ago; factor confluence was given by the gap closure (see yellow box) where price action printed a neat bullish outside reversal candle at key support level.
Got in @ $130.65 and still riding
