Johnson & Johnson JNJ is reporting its second-quarter earnings on Wednesday. Wall Street expects $2.7 in EPS and $22.3 billion in revenues as the company reports before market hours.

The stock is down 5.56% over the past year, -4.16% YTD.

Let’s look at what the charts indicate for Johnson & Johnson stock and how the stock currently maps against Wall Street estimates.

Johnson & Johnson Technical Setup Ahead Of Q2 Earnings 

Johnson & Johnson stock is exhibiting a strongly bullish trend, as its share price is above the 5-, 20-, and 50-day exponential moving averages.

Chart created using Benzinga Pro

Currently priced at $150.17, the stock is trading above its 8-day simple moving average (SMA) of $148.43, its 20-day SMA of $147.44, and its 50-day SMA of $148.12, all of which are bullish indicators.

Chart created using Benzinga Pro

The Moving Average Convergence Divergence (MACD) indicator also suggests a bullish outlook with a reading of 0.50. However, some caution is warranted due to slight selling pressure and its price being below the 200-day SMA of $153.37, which is a bearish signal.

Additionally, the Relative Strength Index (RSI) at 60.62 indicates the stock is heading towards the Overbought territory, while Bollinger Bands (25) suggest a bullish signal, with the stock trading near the upper bound of $150.31.

Read Also: How To Earn $500 A Month From Johnson & Johnson Stock Ahead Of Q2 Earnings

Johnson & Johnson Analysts Consensus Ratings

Ratings & Consensus Estimates: The consensus analyst rating on Johnson & Johnson stock stands at a Neutral currently with a price target of $171.24. However, the three most recent analyst ratings for the stock were released by Cantor Fitzgerald on July 1, June 25, and June 20, 2024. These ratings have an average price target of $215, suggesting an implied upside of 43.21% for the stock.

JNJ Price Action: Johnson & Johnson stock was trading up 0.84% at $150.50 at the time of publication Tuesday.

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