The Markets Are Getting Defensive, So Keep An Eye On Johnson & Johnson

The FAANG stocks have carried the Markets the last several years. However, this earnings quarter, the FAANG stocks have lost a tooth. Google and Apple did well, Amazon sold off, but Netflix and Facebook got slammed. I think the message this earnings season was there is still growth, but more risks in the FAANG stocks, so the Smart Money is starting to get defensive In particular, I have noticed money flowing into consumer staples and the health care sector. Quite simply whether the Markets are topping or in an down spiral, people still get sick and need to eat.

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Johnson & Johnson (JNJ) is an American multinational medical devices, pharmaceutical and consumer packaged goods manufacturing company founded in 1886. Johnson & Johnson's brands include, but not limited to Band-Aid Brand line of bandages, Tylenol medications, Johnson's baby products, Neutrogena skin and beauty products,

JNJ is one of the most consistent publicly companies out there. The company has paid increasing dividends for 50+ consecutive years. The company even grow its earnings-per-share every year during the Great Recession from 2007 through 2009.

Thus, JNJ is one stock to keep an eye on, let go to the charts for details.

Monthly Chart (Curve Timeframe) - the monthly demand is at $111 and monthly supply is at $143.

Weekly Chart (Trend Timeframe) – price is sideways, but the momentum is to the upside.

Daily Chart (Entry) – the chart suggest to go long on a pull back into the demand zone at $128.50 with targets at $138 and a final target at $144.

This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.

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by rollandthomas

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