Johnson & Johnson (JNJ) Stock Chart Analysis

This article is a Johnson & Johnson (JNJ) stock chart review and analysis. The brands that fall under Johnson & Johnson are extensive. I recommend visiting the official Johnson & Johnson (JNJ) website.

Whether its baby powder or band-aids, Johnson & Johnson has several spaces occupied in my bathroom pantry. Neosporin seems to be another item under Johnson & Johnson's umbrella of products and goods.

But baby products are the company's cash cow. After all, the population just seems to increase, not decrease. More and more babies means more and more profits...

I remember as a teenager oiling up with Johnson's baby oil before going to the beach. I was already pretty tanned from working outside in the summertime, but the added oil still caused me to get burnt. I learned a valuable lesson that day and was glad to not damage my skin other than the temporary burn. The stupid things we do when we are teenagers.

So is Johnson & Johnson's (JNJ) share price going to cause investors to get burnt? Or will it be a temporary burn? JNJ just reported earnings on April 18, 2017 before the market opened. The initial reaction was a Falling Window candlestick pattern that can be seen on JNJ's daily chart below. A Falling Window candlestick pattern is also known as a gap-down. This gap-down will provide resistance on any subsequent rebound attempts.

Let's review some charts that should cause shorter-term investors that are long to get nervous.

JNJ - Long-Term Analysis

This first chart is a 20 year monthly candlestick stock chart. From a longer-term perspective, JNJ's share price developed 2 different bearish reversal candlestick patterns that have resistance areas in the same general price area, a Bearish Engulfing candlestick pattern and a Shooting Star candlestick pattern.

JNJ's share price developed a Bearish Engulfing candlestick pattern in August 2016 with a high of $125.90; this price level represents the resistance area from the Bearish Engulfing candlestick pattern.

A Shooting Star candlestick pattern then developed in March 2017. While it did move higher than the $125.90 resistance area from the Bearish Engulfing candlestick pattern, it closed below the resistance area by the end of the month.

Longer-term, JNJ's share price appears poised to…....

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I review the trade set-ups for the $110 and $95 price levels. Trade set-ups at these levels are based on the bearish reversal candlestick patterns noted above. If you want to learn about properly trading these bearish candlesticks, join Trendy Stock Charts today and access the members only area where I discuss trading techniques for each candlestick pattern.

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