Shares of Johnson & Johnson (JNJ) rallied Wednesday on news of the company's potential talc litigation settlement. Let's check closer to see if this can reverse the downward path of the stock the past 12 months.
In the daily bar chart of JNJ, below, I can see that share prices gapped higher on the opening. The shares jumped above the still declining 50-day moving average line. The slope of the 200-day line is negative and the line intersects around $168.
The On-Balance-Volume (OBV) line shows a small rounding pattern in March suggesting limited buying ahead of this news. The Moving Average Convergence Divergence (MACD) oscillator improved in March but is still below the zero line.