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Here's How Johnson & Johnson Stock Looks Ahead of Earnings

·2 min read
Here's How Johnson & Johnson Stock Looks Ahead of Earnings
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Johnson & Johnson is due to report its quarterly earnings figures on Tuesday, Oct. 19, and investors will be ready to pick through the numbers and footnotes. In the updated daily bar chart of JNJ, below, we can see that the shares have been trading around our $159 stop so I will assume that traders took a loss on our June recommendation. The shares are trading below the 50-day and 200-day moving averages but the On-Balance-Volume (OBV) line looks like it has stabilized and the 12-day price momentum study shows a pattern of higher lows from September to October for a bullish divergence when compared to the price action.