JNJ is poised for a contrarian breakout

 
JNJ is poised for a contrarian breakout
 
Based upon the analysis above in JNJ, traders should make sure that their portfolio can handle increased risk from a new trade. Also be sure that JNJ adds diversification to your current account. Lastly, good traders note how a new addition relates to not just their portfolio but the rest of the market action as well. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Be sure to coincide your trading actions on JNJ in relation to the overall market as well.
 
CHART
 
Currently the proprietary sentiment levels, analysed by Traders For Wealth, have shown an increasingly negative bias toward JNJ. However, the price action in JNJ has been moving up in value. This could be a contrarian sign to traders for a potential reversal. Traders should view this as a bullish contrarian trade and make sure it aligns with the market and their portfolio.
 
Johnson & Johnson (JNJ)
 
Johnson & Johnson is a holding company. The Company is engaged in the research and development, manufacture and sale of a range of products in the health care field. The Company has more than 265 operating companies conducting business around the world. The Companys primary focus is products related to human health and well-being. The Company is organized into three business segments: Consumer, Pharmaceutical and Medical Devices. The Company’s subsidiaries operate 134 manufacturing facilities occupying approximately 21.5 million square feet of floor space. The Companys research facilities are located in the United States, Belgium, Brazil, Canada, China, France, Germany, India, Israel, Japan, the Netherlands, Singapore, Switzerland and the United Kingdom.