Johnson & Johnson flashback update: Wave five extension in progress toward new highs

Gregor Horvat Wavetraders

As discussed back on June 10, Johnson & Johnson was expected to continue higher after completing a complex wave 4 correction. That scenario played out, with price pushing back to all-time highs. CHECK IT HERE.

A projected wave 5 now appears to be in progress, with further upside potential as a lower-degree five-wave bullish impulse unfolds. The next upside area to watch is 260–280, with the bullish structure remaining valid as long as price holds above 240.

Highlights

Wave 5 in progress.
Five-wave bullish impulse unfolding within wave 5.
Target zone: 260–280+.
Bullish view remains valid above 240.

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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