Kenvue ( KVUE) is formerly the Consumer Healthcare division of Johnson & Johnson ( JNJ) . Kenvue is the proprietor of well-known brands such as Aveeno, Band-Aid, Benadryl, Johnson's Baby, Listerine, Mylanta, Neutrogena, Tylenol, and Visine.
Let's check out the relatively new charts to see what clues we can glean.
In this daily bar chart of KVUE, below, I can see that prices have declined since the start of their spinoff from JNJ. With less history to work with I used a 10-day and a 20-day moving average. KVUE is trading below both of these short-term averages. Trading volume is not expanding and thus not showing us increased interest from investors.
The daily On-Balance-Volume (OBV) line jumped higher in late August but has turned lower again. The 12-day price momentum study is not yet showing us a bullish divergence.
In this weekly Japanese candlestick chart of KVUE, below, I can see mostly red or bearish candles. No lower shadows yet and no bottom reversal.
In this daily Point and Figure chart of KVUE, below, I can see a potential downside price target in the $18 area.
Bottom line strategy: Traders who own KVUE as a spin-off from JNJ have been disappointed to date. Prices could decline further before investors find it interesting.
