Chart Patterns & Algorithmic Trader (Jan. 28, '20) (43)
JNJ Cup & Handle Pattern
s
Johnson & Johnson (JNJ) is forming a Cup and Handle pattern on its daily chart and
trading near the breakout level of $157.10. C&H patterns are valid only when price
closes above the breakout level. A long trade is entered above the breakout level with
a stop placed below the lowest low of the mid cup $147.01. Targets are placed at
$164.59, $169.3 to $172.7.
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