JNJ Elliott Wave analysis – TradingLounge daily chart
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Function: Trend.
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Mode: Impulsive.
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Structure: Motive.
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Position: Wave {v} of 1.
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Direction: Upside within wave {v}.
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Details: Looking for further upside into wave {v}, as we appear to be missing one leg higher to complete this five-wave move subdivision. Targeting around $180, the end of MG2 as the upside target.
JNJ Elliott Wave analysis – TradingLounge one-hour chart
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Function: Trend.
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Mode: Impulsive.
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Structure: Motive.
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Position: Wave i of (I).
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Direction: Upside in wave (I).
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Details: We are looking at the subdivision within wave {v}. The price has reached equality in length between waves {ii} and {iv}, which is often a key area of interest for wave {iv} targets. We are awaiting confirmation of further upside.
This analysis of Johnson & Johnson (JNJ) incorporates both the daily and 1-hour charts, utilizing Elliott Wave Theory to assess current market trends and forecast future price movements.
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Daily chart: Looking for further upside in wave {v}, as the final leg higher seems to be missing. Targeting $180, which marks the end of MG2. The trend remains bullish until wave {v} is completed.
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1-Hour chart: Analyzing the subdivision within wave {v}, with equality in length between waves {ii} and {iv} suggesting wave {iv} is a potential target. Further upside confirmation is awaited.
Technical analyst: Alessio Barretta.
JNJ Elliott Wave analysis – TradingLounge daily chart [Video]
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