Johnson & Johnson (JNJ) engages in research & development, manufacture & sale of range of products in the healthcare sector worldwide. It operates through Innovative Medicine & MedTech. It comes under Healthcare sector & trades as “JNJ” at NYSE.
The JNJ favors rally in bullish sequence from January-2025 low & expect at least one or few more highs to extend rally. Buyers can look to enter the pullback in 3, 7 or 11 swings correction for next leg higher.
JNJ – Elliott Wave Latest Daily View:
In weekly, it ended (I) impulse at $186.69 high in April-2022 & (II) correction at $140.68 low in January-2025. The pullback in (II) as choppy double three structure. Within (II), it ended w at $150.11 low, x at $175.97 high & y at $140.68 low. Above April-2025 low, it ended ((1)) of I at $169.99 high, ((2)) at $141.50 low, ((3)) at $251.71 high & favors pullback in ((4)) in 3 or 7 swings (or triangle) correction. It is showing extended ((3)) sequence. In ((3)), it ended (1) at $159.44 high, (2) at $146.12 low, (3) at $215.19 high, (4) at $200.91 low & (5) at $251.71 high.
Currently, it favors pullback in ((4)) below 3.02.2026 high. It ended (A) of ((4)) at $235.43 low. Above there, it favors bounce in (B), which can retest March-2025 high before it may turn lower to correct (C) against 4.05.2026 low. Buyers can look for buy at extreme area in (C) of ((4)) & later in II correction. If it breaks above 3.02.2026 high, then it can be the part of (5) of ((3)). The ((4)) can possibly correct towards $225.85 or lower before another push higher resumes. Do not like selling it in any pullback as impulse from January-2025 low looks incomplete.
Source: https://elliottwave-forecast.com/stock-market/jnj-stock-extended-rally-signals-buyers/