Technical Analysis of Johnson & Johnson Stock (JNJ)This chart for JNJ illustrates a technical setup within a descending channel. Key Fibonacci retracement levels (38.2%, 50%, and 61.8%) are highlighted, indicating potential zones of support and resistance. The analysis suggests a three-part buying strategy: an initial purchase at the current market price (CMP) near a double-bottom structure, a second purchase around the $138โ$136 range (61.8% Fibonacci level), and a third at the $133โ$135 channel bottom. A stop loss is defined at $130 on a closing basis to manage downside risk, emphasizing disciplined trading within the defined channel boundaries.