Everything in this chart screams buy buy buy, heres why.
We will be analyzing this chart from top to bottom.
Divergence+: A very accurate ( so accurate the script cost $$$ ) indicator that shows buying/selling strength and even buy and sell signals. There is not a buy signal on the 1 hour chart, however if you look at the most recent candles you can see the large green shadow underneath showing that bull power is getting stronger.
MACD: Shows that bear strength is weakening, giving the bulls an opportunity to take over and greatly influence price.
RSI: Is very low for JNJ as it normally runs at a 65, with JNJ being underbought we can expect investors to start buying.
Finally the Bollinger bands: They have finally crossed at their low with the green bar as a buy signal.
These are all reasons why JNJ is a strong buy and I see a strong upswing coming in the neat future.
We will be analyzing this chart from top to bottom.
Divergence+: A very accurate ( so accurate the script cost $$$ ) indicator that shows buying/selling strength and even buy and sell signals. There is not a buy signal on the 1 hour chart, however if you look at the most recent candles you can see the large green shadow underneath showing that bull power is getting stronger.
MACD: Shows that bear strength is weakening, giving the bulls an opportunity to take over and greatly influence price.
RSI: Is very low for JNJ as it normally runs at a 65, with JNJ being underbought we can expect investors to start buying.
Finally the Bollinger bands: They have finally crossed at their low with the green bar as a buy signal.
These are all reasons why JNJ is a strong buy and I see a strong upswing coming in the neat future.
