Johnson & Johnson (JNJ) Daily Chart
JNJ Elliott Wave Technical Analysis
FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Wave {i} of 1

DIRECTION: Upside in wave 1

Details:
We are tracking a potential major bottom forming in Primary wave 2. A clear five-wave move into wave {i} suggests the early stages of an upside trend resumption.

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Johnson & Johnson (JNJ) 1-Hour Chart
JNJ Elliott Wave Technical Analysis
FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Wave (c) of {ii}

DIRECTION: Bottom in wave (c)

Details:
We expect a little more downside to complete wave (c), which should then pivot higher. This upward move could either mark the beginning of Minute wave {iii} if the Primary wave 2 bottom is confirmed, or it could be the start of wave {c} of another degree.

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JNJ Elliott Wave Summary:
This analysis of Johnson & Johnson (JNJ) examines both the daily and 1-hour timeframes using Elliott Wave Theory to outline current market trends and predict future price directions.

Daily Chart:
We are monitoring the possible completion of a major corrective Primary wave 2. A clear five-wave impulsive sequence in wave {i} indicates an early trend reversal, pointing towards the beginning of a new bullish cycle.

1-Hour Chart:
On the lower time frame, wave {ii} correction appears nearly complete, with wave (c) needing a final push lower. A confirmed bottom could initiate a stronger bullish move into wave {iii}.

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