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Johnson & Johnson: it is necessary to wait for the signal
A player of a huge scale, a structure of more than 250 subsidiaries, a vertically integrated holding consisting of the production of sanitary and hygienic goods, medicines, as well as medical and social equipment. This is Johnson & Johnson. The business earns from sales in the consumer segment of the market (17%), in the pharmaceutical (51%) and medical devices sector (32%).
The company has relied on a diversified business model, which allows it to maintain stability in almost any market scenario.
Johnson & Johnson has presented its quarterly report. Its strengths:
There are weak spots – for example, a 1% reduction in sales of medical equipment by the sector in the second quarter to $6.9 billion. In addition, it is worth paying attention to the company’s reduction in expectations for adjusted net profit for 2022 to $10 per share, revenue to $93.3-94.3 billion.
However, in general, the main reporting indicators came out better than forecasts, which allows us to maintain a positive outlook on the prospects of the company’s shares.
The consensus estimate for Johnson & Johnson securities is $190-197 at the end of 2022.
On the daily chart, the MACD indicator is still declining in the negative zone and does not form a buy signal. The Stochastic oscillator is declining, approaching the oversold zone, after which it will be able to turn up and begin forming a buy signal. The technical picture does not yet give a clear signal for acquisitions, it is worth waiting for a more successful situation.
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