JNJ Elliott Wave analysis: Bullish rally targets $271.37 and beyond

Elliott Wave Forecast Team ElliottWave-Forecast.com

Johnson & Johnson (JNJ) engages in research & development, manufacture & sale of range of products in the healthcare sector worldwide. It operates through Innovative Medicine & MedTech. It comes under Healthcare sector & trades as “JNJ” at NYSE.

The JNJ favors rally in ((5)) targeting $271.37 or higher to extend January-2025 rally expected before. It favors rally in (3) of ((5)) from blue box area. Short term pullback in 3, 7 or 11 swings remain supported in 9 swing impulse rally.

JNJ – Elliott Wave latest daily view

In weekly, it ended (I) impulse at $186.69 high in April-2022 & (II) correction at $140.68 low in January-2025. The pullback in (II) as choppy double three structure. Within (II), it ended w at $150.11 low, x at $175.97 high & y at $140.68 low. Above April-2025 low, it ended ((1)) of I at $169.99 high, ((2)) at $141.50 low, ((3)) at $251.71 high, ((4)) at $220.37 low & favors upside in ((5)). It is showing extended ((3)) sequence. In ((3)), it ended (1) at $159.44 high, (2) at $146.12 low, (3) at $215.19 high, (4) at $200.91 low & (5) at $251.71 high.

JNJ – Elliott Wave daily view from 5.25.2026

Within ((4)), it ended (W) at $232.24 low (3.24.2026), (X) at $247.21 high (4.02.2026) & (Y) at $220.37 low (5.11.2026). It placed (1) at $232.13 high, (2) as flat at $220.84 low & favors (3) in five swings. Within (3), it placed 1 at $241.60 high, 2 at $227.50 low & favors 3 towards $261.1 – $269.1 area before 4 starts. It is trading in fifth swing & expect pullback to remain supported to continue higher. Buyers can buy intraday pullback in 4 or (4) for next leg higher. Once it breaks above $271.37, it can extend rally towards $305.3 in daily.

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Elliott Wave Forecast Team

ElliottWave-Forecast.com

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