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Jnjlong

$JNJ - Weekly Outlook Feb 25 - Mar 01$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
NYSE:JNJLong
by Blackhole-Trading