Hubert Senters here.
I had a question from a viewer. Would I buy Johnson & Johnson here? Well, maybe. It’s all going to depend on, you know, I wouldn’t mind doing a small nibble on the long side. And today, we had one of the biggest net up move days in history which is pretty amazing.
And it was all caused by all the selling. And then we had a nice little spark and then we had a bunch so if you’re interested in buying Johnson & Johnson for me I would probably leave it alone. But if you held it into my hands like would you buy it right here? Like I’d give it a shot.
It’s had a nice little sell off into unknown little support area right in here. That’s unknown support. It had a nice little V bottom here so what I would do is if you were interested in Johnson & Johnson, you know, long anywhere around this area of $126 my hard stop would be right here at $120 so I’d be risking $6.76 to see if this is the potential bottom on JNJ.
And my potential target would be $134.80 and then bottom of the cloud. And then hopefully top of the cloud. But I would do a very small size because you still have some pretty crazy volatility out there and you’ve got some unknowns. I don’t think this is the bottom of the market. I think we’re going to go up a little bit in a row right back lower so just be careful.
Good luck. Hope it helps. And See you on the next video.
Hubert.
