Trading idea for Johnson & Johnson (NYSE)

Johnson & Johnson (NYSE)

#JNJ

The trend is upward. The stock is trading between the 365 EMA and the 135 EMA. The downward wave pattern is truncated. The Awesome Oscillator shows bullish divergence, while the Stochastic Oscillator lines indicate oversold conditions.

Trading idea:

Buy upon the formation of an upward wave pattern where wave (A) breaks through the trendline of the truncated downward pattern.

Stop Loss: 265.20.

Target levels: 273.50; 278.50.