As we mentioned earlier, this month we are going to be looking at the stocks that make up the DJIA. . Next up Johnson & Johnson (JNJ).
These days, even the mightiest are falling. When the sellers take hold of the action, this is what happens to a stock’s chart. J&J is another nice income generator as it is passing out 3.71%. But revenue growth has been abysmal. The stock is technically in a bear trend as can be seen by the chart indicators. A good amount of work needs to be done in order to capture the next level for a potential rally point. (above $61 or so).
Forward earnings estimates are not impressive as they are in the single digits. But this is what can be expected from an old-line blue chip, right?
With approximately 30% of its revenues generated from Europe and another 15% from Asia, it will have to show some serious product innovations in order to get the stock moving again. Generally, the score tells the story on this one.
