Current trend

Shares of Johnson & Johnson, one of the leading retail holdings, are adjusting at 155.00.

From December 7 to 10, the annual meeting of the American Society of Hematology (ASH) will be held in San Diego, within which Johnson & Johnson will present more than 90 reports with data from the company's portfolio of offers for medicines that have successfully completed the first phases of clinical trials. Details of the third phase of trials of the Icotrokinra peptide (JNJ-2113), which is one of the company's advanced developments in the field of combating psoriasis in adolescents, will also become known.

In addition, by the end of the year, Johnson & Johnson intends to complete the acquisition of V-Wave, a company that treats heart failure, for just over 600.0 million dollars. According to the long-term strategy, the emitter plans to significantly increase its presence in the cardiovascular disease treatment sector next year by absorbing small companies.

The financial report for the third quarter showed revenue growth from 21.4 billion dollars to 22.5 billion dollars, exceeding the 22.17 billion dollars forecast by analysts. Earnings per share (EPS) amounted to 2.42 dollars, also above the forecast of 2.19 dollars, but below 2.66 dollars last year.

Support and resistance

On the D1 chart, the emitter's quotes are adjusting, working out the downward signal from the "head and shoulders" pattern with the "neck" line at 159.00.

Technical indicators strengthen the sell signal, confirming a possible decline: the fast EMAs on the Alligator indicator move away from the signal line, and the AO histogram forms corrective bars.

Support levels: 151.00, 143.50.

Resistance levels: 157.50, 165.30.

Trading tips

If the asset continues to decline and the price consolidates below the support level of 151.00, one can open short positions with a target of 143.50 and a stop-loss of 154.00. Implementation period: 7 days and more.

In the event of a reversal and continued global growth of the asset, as well as price consolidation above the resistance level of 157.50, long positions with a target of 165.30 and a stop-loss of 154.00 will be relevant.