Johnson & Johnson (JNJ) engages in the research, development, manufacture and sale of a wide range of healthcare products worldwide. It operates based on Innovative Medicine and MedTech. It belongs to the healthcare sector and is listed on the New York Stock Exchange under the name “JNJ”.

JNJ favors upside in a bullish sequence from the January 2025 low. It currently favors a double downside correction in ((4)) and finds support in the $227.8 to $215.82 area to move higher. Buyers will enter this area for at least 3 bounces.

JNJ – the latest Elliott Wave daily view

On a weekly basis, it ended with (I) an impulse at a high of $186.69 in April 2022 and (II) a correction at a low of $140.68 in January 2025. Pullback in (II) as an unstable double triplet structure. In area (II), w ended at a low of $150.11, x at a high of $175.97 and y at a low of $140.68. Above the April 2025 low, it ended at ((1)) I at $169.99, ((2)) at $141.50 low, ((3)) at $251.71 and favors a pullback at ((4)) in 3 or 7 swings (or a triangular correction). Shows the extended sequence ((3)). In ((3)) it ended at (1) a high of $159.44, (2) a low of $146.12, (3) a high of $215.19, (4) a low of $200.91, and (5) a high of $251.71.

JNJ – Elliott Wave daily view from March 16, 2026

Below the high of $251.71, this favors a 7 swing pullback in ((4)) to correct the April 2025 low. In ((4)) ended with (W) three swings at the low of $232.24, (X) at the high of $247.21 and a favorable pullback in (Y). It broke below the (W) low, favoring a decline in the USD 227.8-215.82 area by the end of ((4)). Buyers may be looking for a long entry in the blue box area before the next rally. When it ends ((4)) in the blue box area, the rally above $259 is expected to extend the sequence from January 2025. We do not like to sell it on any pullback as the overall sentiment is bullish and close to finding support.