JNJ Buy Long on Strength

JNJ fundamentally is a cross between Big Pharm and Consumer Staples

Recent Earnings were solid not spectacular but the latter is not expected here.

Technically, JNJ climbs higher without much volatility, At the moment it

is rising in a small cycle within the supertrend. Strength is increasing

and some bearish momentum is exhausting. This is a low-beta stock and it

does not react much to the larger broad market. I see this as a good time

for a LEAP option for early 2024 at a strike 15% above the current price.