Another Shot at J&J
I recently wrote up a guide to help you use my technical analysis to your benefit. Now let's apply those rules as we take a look at a current setup in the stock Johnson & Johnson (JNJ). To reiterate, my basic formula for making money is setup + trigger = trade entry -- and then, of course, trade management.
First, due to this stock's general pattern of higher highs and higher lows, this initial setup was on the buy side. It also helped that the pivotal Nov. 16 low in the S&P 500 futures was intact, as this would likewise vote for some higher prices in the future. The price was also above the 200- and 50-day simple moving averages, and it had recently seen its five-day exponential moving average cross above the 13-day EMA on the daily chart -- another bullish development....622 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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