Johnson & Johnson Wave Analysis – 23 October 2026

Date: October 23, 2026

Analysis by: The FxPro Tech Analysis Team

Market Overview

Johnson & Johnson has recently shown a significant reversal from a key support level, indicating potential upward momentum in its stock price. The analysis suggests a bullish outlook for the company based on technical indicators.

Key Technical Levels

• Support Level: 248.00
• Resistance Level: 274.00

Analysis Details

The stock reversed from the pivotal support level of 248.00, which has been a critical point since March. This level coincides with the lower daily Bollinger Band and the 50% Fibonacci retracement of the upward impulse that began in May. The recent upward movement has formed a daily Bullish Engulfing pattern, signaling a potential end to the ABC correction that started in September.

Future Expectations

Given the strength of the support at 248.00 and the prevailing daily uptrend, it is anticipated that Johnson & Johnson's stock will continue to rise towards the next resistance level at 275.00, which has historically reversed the price since July.

Conclusion

The analysis indicates a favorable outlook for Johnson & Johnson, with expectations of further price increases as it approaches the identified resistance level. Investors may consider this technical analysis when making decisions regarding their positions in the stock.