Johnson & Johnson (JNJ) reported an earnings beat Thursday morning as their Pharmaceutical and MedTech divisions outperformed estimates. Let's check out the charts and indicators of one New Jersey's largest employers and a member of the Dow Jones Industrial Average (DJIA).
In the daily bar chart of JNJ, below, I can see that share prices declined to a low in March. JNJ rallied into early April and then corrected lower to another higher low in late May. The stock firmed again in June but did not break above the April levels.
The key area for JNJ to overcome is $166-$167. JNJ trade should trade above the 50-day moving average line Thursday but may stay below the 200-day line for a while longer.
The On-Balance-Volume (OBV) line shows weakness since December suggesting that sellers of JNJ have been more aggressive than buyers. The Moving Average Convergence Divergence (MACD) oscillator has been oscillating around the zero line the past three months.