Technical Analysis of Financial Markets

Sunday, March 30, 2008

Johnson & Johnson (JNJ)

Johnson & Johnson engages in the research & development, manufacture and sale of healthcare products worldwide. Price action is currently forming a seemingly bull flag pattern which should see a price target of approx $68 towards prior 52-week highs. A price target is derived by projecting the height of the Flag Pole formation from the base of the Bull Flag formation. Stop-loss and failure of the formation upon breakdown of current OBV support.

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