Hi Shoppers,
Johnson & Johnson (JNJ) is sporting a beautiful doji right at the bottom of my pitchfork, with confirmation on Thursday:
A doji candle has a very small or nonexistent real body (the red or green color part), meaning neither the bulls nor the bears are in charge of the market. It denotes indecision and causes a change in the trend.
As with all my change-in-trend candles, I like to wait for confirmation. That is the stock moving in the new direction the day following the doji candle.
JNJ has this setup.
My stock price target is $237.67 (the 20-day moving average), then $240.49 (the 50-day moving average), and finally $245.66. Use a close below $228.85 as your stop loss.
Thank You For Reading.
See You Next Tuesday,
Licia Leslie
P.S. Join Hans today for a very special live event. We all know the investment world has changed from the 60 percent stock and 40 percent bonds strategy that worked for so long.
Hans is going to reveal the investment strategy that works for today's markets and your retirement account.