BY LICIA LESLIE
January 07, 2024
Hi Shoppers,
Johnson & Johnson (Ticker: JNJ) has closed above the 200 day moving average four days now.
It is now bull flagging:
JNJ looks primed to rally to $165-$166.
Shopping for options:
I like the Jan19 162.50 calls. With JNJ at $165, these calls will double.
Use a close below the 200 day moving average for your stop loss.
Trade Review
SPDR S&P 500 ETF (Ticker: SPY) is creating spinning tops here. The chart is still intact to trade lower.
Thanks for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
See what's hot at option pit
CAPITOL GAINS: SMR Aug16 7 call closed for a 150% gain
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OPTION SHOPPER: ERX Mar28 65 calls closed for a 90% gain