Johnson & Johnson (NYSE:JNJ)
Johnson & Johnson is engaged in the research and development, manufacture and sale of a broad range of products in the health care field. The business of Johnson & Johnson is conducted by more than 275 operating companies across the world.
Official website: www.jnj.com
Johnson & Johnson (NYSE:JNJ) Drops After Earnings, Where Are The Trade Levels?
A few days ago the leading healthcare stock Johnson & Johnson (NYSE:JNJ) dropped sharply lower after reporting earnings. The stock lost about 3.0 percent on April 18th, 2017. Many traders and investors are now wondering where this stock will finally find a low and rebound.
The daily chart 200-day moving average is sitting around the $119.00 level. This will be a decent chart support area for a bounce, but if the stock consolidates above the $119.00 level for another week or so traders will have to look lower. The next major support level for JNJ stock will be around the $116.83 level. This is an area where the stock broke out in February 2017. Often, stocks will retrace back down to the break-out level before moving higher. Either way, JNJ stock should be on traders radar.