Johnson & Johnson Message Board

  • lcristia lcristia Oct 6, 2003 9:37 PM Flag

    So far we've seen a double bottom.

    If we're successful at holding at $49 during this month of October, then we should see $55 or higher before the year is out.

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    • I agree, this is a classic DB, exactly 4-6 weeks apart the bottoms were made at 49. Only the peak between the bottoms was very low (52 +/- 0.50) as a result the max this stock can move within the next 2-3 weeks is going to be 53+/- 1, wish it was higher. Regardless JNJ is in a strong position at 49 fundamentally and is due for a bounce. BTK is in trouble and the likes of MEDI, DNA, ONYX, CHIR to name a few are in for real trouble.

      But, time will tell. I expect a major decline in the market, but the bullish sentiment is clearly not overdone as yet, maybe when we get closer to Oct 17-19, co-incidently Mr. Snow talks then too on USD. I do expect the fall that most people expect in Oct to occur sometime in late Oct or Nov and money will go to large cap stocks like JNJ. Timing wise, that would be approx. 2+ weeks from there at which point I also expect JNJ to be at the top of the DB at close to 53+/- 1.

118.23+1.68(+1.44%)Jun 28 4:00 PMEDT