The support level of 204.50 is holding back sellers. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator indicates an oversold condition. A breakout of the sloping channel with the formation of an ascending 1-2-3 pattern will allow the stock to rise as the dividend gap closes.
The ascending H8 level pattern is truncated, the internal H4 level pattern is also truncated. A reversal wave model is likely to form. A bearish divergence has formed on Awesome Oscillator and on the bull strength indicator.
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Tuesday, October 13th, today’s news—Johnson & Johnson pauses the coronavirus vaccine trial after an unexplained illness of a participant. European markets are weaker amid the uncertainty over the vaccine and fears of a new unemployment wave, dollar is stronger, oil is up following the positive economic data from China. The …
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