The document provides an equity investment strategy recommendation for Johnson & Johnson ($JNJ) stock. It recommends that long-term investors remain invested to benefit from continued upward movement and dividend payouts. Short-term investors are advised to look for opportunities to re-enter the trade by buying dips as the stock has been consolidating and starting to trend up toward potential price targets of $144.50 to $150.45 based on technical analysis.

1. Recommended Equity Investment Strategy
Johnson & Johnson ($JNJ)
Donatas Taraile
TarDon Capital
July 18, 2018

2. Johnson & Johnson ($JNJ) – Recommended Equity Investment Strategy
• Long-/Mid-term Investor
• Even though in both the long and mid term the lower share price targets have been reached, $145 and
$142 respectively, stay invested and benefit from continued upward move and dividend payout
($0.90/share scheduled on Aug 27).
• Short-term Investor
• Had to be out of position since early Feb’18 as the short-term share price objective of $142 has been
successfully achieved.
• Currently, look for a favorable opportunity to enter the trade by buying the dip as $JNJ has been
consolidating for a while and already started to trend up, first within its trading range and then
potentially further up towards estimated Wyckoff’s PnF (Point & Figure) target of $144.50-150.45.
2

3. 3

4. 35 Columns
1 Point Scale
3 Box Reversal
105 Count
140.00
157.00
4

5. 5

6. 23 Columns
1 Point Scale
3 Box Reversal
69 Count
145.00
163.00
6

7. 7

8. 7 Columns
2 Point Scale
1 Box Reversal
14 Count
142.00
8

9. 9

10. 10

11. 9 Columns
0.85 ATR
1 Box Reversal
7.65 Count
128.35
30 Columns
0.85 ATR
1 Box Reversal
25.5 Count
144.50
150.45
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