+ 0.00
+ 0%
+ 0.00
+ 0%
+ 0.00
+ 0%
+ 0.00
+ 0%
+ 0.00
+ 0%

Technicals To Watch As Johnson & Johnson Pauses Vaccine After Blood Clot Cases

April 13, 2021 2:30 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Technicals To Watch As Johnson & Johnson Pauses Vaccine After Blood Clot Cases

Johnson & Johnson (NYSE:JNJ) shares are trading lower amid a pause on its COVID-19 vaccine due to rare blood clot cases in some patients.

Johnson & Johnson was trading down 1.6% to $159 at publication time. Below is a technical analysis of the chart.


Johnson & Johnson Daily Chart Analysis: The chart above shows the stock is forming into a pennant chart.

Connecting the highs and the lows on the chart above shows that the stock is making lower highs and higher lows. This indicates the stock is consolidating and may trade sideways until a strong push one way may happen.

The stock is trading above the 200-day moving average (blue), indicating the sentiment in the stock has been bullish recently. This indicator is also another area where the stock may find support in the future.

What’s Next For Johnson & Johnson? Bullish traders would like to see the stock consolidate for a time period before the stock is able to cross above the line that connects the highs. A cross above this line could mean the stock is breaking out.

Bearish traders would like to see the stock consolidate for a time and break below the line that connects the lows. A cross below this line may indicate the stock is breaking down, and the stock may see a stronger push following the break.

Pennant patterns are able to go either way. This pennant pattern may be considered bullish or bearish by traders; the bullish run before the pennant may hint the pattern looks more bullish.

Related Articles

The SPY, QQQ And DIA All Plunged Today. Here's Why.

U.S. indices continued lower Tuesday amid weakness in tech stocks and potential profit-taking in financials and growth names.  read more

Defiance ETFs CIO Sylvia Jablonski Is Watching These 3 Stocks Ahead Of Earnings

This earnings season is expected to be remarkably strong, Defiance ETFs CIO Sylvia Jablonski said Monday on CNBC's "Squawk Box."  The CIO expects "stellar" earnings that should help define the state of the economic recovery, she said.  read more

Bulls Bought The Dip In Johnson & Johnson Stock: What's Next?

Johnson & Johnson’s (NYSE: JNJ) stock gapped down 3% Tuesday following the Food and Drug Administration and the Centers for Disease Control and Prevention’s recommendation that the use of its COVID-19 read more

2 Popular Stay-At-Home Stocks Trading Higher Following J&J's Vaccine Pause

Peloton Interactive Inc. (NASDAQ: PTON) and Zoom Video Communications Inc. (NASDAQ: ZM) are both trading higher Tuesday after the read more