Johnson & Johnson: Bullish Charts Signal Strong Setup Before Q2 Earnings
Portfolio Pulse from Surbhi Jain
Johnson & Johnson (NYSE: JNJ) is set to report its Q2 earnings on Wednesday, with Wall Street expecting $2.7 EPS and $22.3 billion in revenues. The stock is currently showing bullish technical indicators, trading above its 5-, 20-, and 50-day EMAs, and has a bullish MACD reading of 0.50. However, it is below its 200-day SMA, which is a bearish signal. The RSI is at 60.62, indicating it is nearing overbought territory. Analysts have a Neutral consensus rating with a price target of $171.24, but recent ratings suggest a higher target of $215.
July 16, 2024 | 4:46 pm
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Johnson & Johnson is set to report Q2 earnings with Wall Street expecting $2.7 EPS and $22.3 billion in revenues. The stock shows bullish technical indicators but is below its 200-day SMA. Analysts have a Neutral rating with a price target of $171.24, but recent ratings suggest a higher target of $215.
The stock is showing strong bullish technical indicators ahead of its Q2 earnings report, which could lead to a positive short-term price movement. However, the stock is below its 200-day SMA, which warrants some caution. Analysts' recent ratings suggest a significant upside potential.
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IMPORTANCE 80
RELEVANCE 100