Johnson & Johnson: Wave 4 correction may be nearing completion after wave 3 extension [Video]

Gregor Horvat Wavetraders

As discussed with our members back on November 14, 2025, Johnson & Johnson was still tracking an extended wave 3 structure with further upside potential. Since then, price has turned lower and retraced more deeply than initially expected, but the move still appears corrective rather than a trend reversal.

The current decline continues to respect key trendline support from the June 2025 lows, suggesting the pullback is likely part of a higher-degree wave 4 correction, potentially unfolding as a complex WXY structure. From a broader perspective, the larger bullish impulse from early 2025 still appears incomplete, leaving room for a possible final wave 5 to the upside once the correction completes. Key support is now seen at 215–225, with deeper support at 210–200 (38.2% retracement).

Highlights

Pullback still looks counter-trend, complex WXY correction.
Key support zone at 215–225.
Next support near 210-200 (38.2%).
Bullish wave five still possible on higher timeframe.

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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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