Trends and Targets for 10/01/2019

Johnston & Johnston #GOLD #Nasdaq Famed for their innovation in creating fireproof babies (by once apparently including asbestos in their famed baby powder) this share has thus far evaded the full wrath of the markets. In fact, quite the converse may prove true this earnings season!

The share price need only close a session above 132.5 to give early warning of movement to an initial 144, effectively making their recent PR disaster a distant memory. Greater interest is justified, should 144 be bettered. This moves the price into territory where a longer term 152 becomes viable, along with a new all time high.

Our interest is piqued by the drop to 121 at the end of December. We’d anticipated a visit to 118 and were surprised this level was not achieved, instead the price experiencing a slight bounce before target. Usually this comes with the implication of some real strength in a price, so perhaps it shall prove worth watching fairly soon.

 

What happens if 118 breaks?

Travel down to an initial 104 followed by a doubtless short lived bounce looks very possible. Should 104 break, continued weakness in the longer term suggests a bottom eventually at 89, a point where a real bounce would be expected. The larger problem – with any moves below 118 – comes from two sources.

Firstly, there’s a break of the uptrend since 2012 and secondly, the visual implication of “double top” share price peaks. This self fulfilling prophecy risks being sufficient to drive an eventual 72, perhaps even 32 in the long term.

Who knows, perhaps their success in appealing punitive US court verdicts shall continue. For some reason, US mothers did not appreciate the concept of fireproof children…

 

Chart goes here.

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

10:09:49PM

BRENT

61.35

Success

10:11:35PM

GOLD

1293.76

1285.5

1283.5

1280

1292

1294

1295.5

1301

1287

Success

10:14:16PM

FTSE

6899.84

‘cess

10:17:55PM

FRANCE

4812

‘cess

10:21:53PM

GERMANY

10891

‘cess

10:24:16PM

US500

2580

10:26:15PM

DOW

23866.1

‘cess

10:28:36PM

NASDAQ

6591.37

6541

6504

6460

6596

6636

6659

6673

6548

10:30:01PM

JAPAN

20265

 

 

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