Elliott Wave Technical Analysis: Johnson & Johnson - Tuesday, March 26

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JNJ Elliott Wave Analysis Trading Lounge Daily Chart,

Johnson & Johnson, (JNJ) Daily Chart

JNJ Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive  

POSITION: Wave (3).

DIRECTION: Upside in wave 3 of (3).

DETAILS: Looking for a three wave move into wave (2) to be completed as we found support on Medium Level at 150$. We are still in the need of upside confirmation into wave (3).

JNJ Elliott Wave Analysis Trading Lounge 4Hr Chart,

Johnson & Johnson, (JNJ) 4Hr Chart

JNJ Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive  

POSITION: Wave {c} of 2.  

DIRECTION: Turn into wave 3.  

DETAILS: Monitoring the downside into wave {c} as we are approaching equality of {c} vs. {a}. Looking for support to be found within the 155$ to 150$ range.

Welcome to our JNJ Elliott Wave Analysis Trading Lounge, where we delve into Johnson & Johnson (JNJ) using Elliott Wave Technical Analysis. Let's explore the market dynamics on the Daily Chart as of March 26, 2024.

*JNJ Elliott Wave Technical Analysis – Daily Chart*

Our analysis reveals a trending function characterized by impulsive mode and motive structure, positioned in Wave (3). The direction signals upside momentum in wave 3 of (3). Currently, we anticipate the completion of a three-wave move into wave (2), with support identified at the Medium Level of $150. However, we await confirmation of the upward trajectory into wave (3).

* JNJ Elliott Wave Technical Analysis – 4Hr Chart*

Here, we observe a trending function marked by impulsive mode and motive structure, positioned in Wave {c} of 2. The direction indicates a transition into wave 3, with a focus on monitoring the downside into wave {c}. As we near equality between wave {c} and wave {a}, which typically occurs within the $155 to $150 range, we anticipate finding support.


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