Johnson & Johnson’s (NYSE: JNJ) price action entered consolidation in early March. While it may continue moving sideways or even pull back further, those moves are unlikely, given a convergence of factors.
Price action and accelerating growth suggest the March pullback is a continuation signal and a buying opportunity likely to lead to much higher prices down the road. Among the highlights from the recent Q1 earnings release were numerous approvals and pipeline updates, which led management to increase guidance and affirm a double-digit revenue growth pace by the decade’s end.
