Hi Shoppers,

On Friday, Johnson & Johnson (Ticker: JNJ) made a big breakout:

JNJ has seen lower highs and lower lows since back on June 27, when it traded $183.35 – and created a shooting star, I might add.

It has traded up since the doji created on Oct. 10 and has been coiling in a bull flag beginning on Oct. 14.

Friday, JNJ decisively traded above that bull flag and closed above my resistance line at $167.80.

I think from here JNJ can trade back up to its 200-day moving average at $171.87.

I like this week’s options as I expect JNJ to have the follow through this week.

A pretty cheap quick win could be had by buying the Oct. 28 170 calls around $1.10:

Trade Review

In my last column, I liked Tesla (Ticker: TLSA) to trade higher. It was up almost 3.5% on Friday. I am seeing some resistance at $216 and, beyond that, I am seeing $230 and possibly $250.

Thanks for Reading … See You Next Tuesday.

Licia Leslie