To The Moon

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The second newsletter of the day is centered around the following stocks:

Johnson & Johnson (NYSE: JNJ)

JNJ has been trading in a series of higher highs and lows since IPO. The monthly stochastic formed a bullish crossover in Aug'24 but price has continued to consolidate in a descending channel dating back to the 2022 ATH.

On the daily chart, there is a pennant consolidation pattern with lower highs and higher lows.

Price is hanging in the middle of the range - I'm watching 157.94-160.56 (monthly imbalance inclusive of weekly imbalance: 159.44-160.56) to the upside and 143.19-145.59 (weekly support) to the downside.

For new ATHs, bulls need to reclaim the monthly resistance at 166.34-174.07. For protracted downside, bears need to break JNJ below its ascending channel (in green).

Humana Inc. (NYSE: HUM)

HUM has been trading in a series of higher highs and higher lows into IPO. It's now consolidating back into long-term trend support (in dark blue) via a descending broadening wedge (in red) with lower highs and lows. The monthly stochastic is at risk of forming a bearish crossover, pending this month's candle close.

The weekly stochastic formed a bearish crossover at the start of the month. That being said, HUM is now sitting at the 61.8% retracement from 2009 lows (1 Fib: 18.57) to the 2022 highs (0 Fib: 571.30). This also coincides with the quarterly support sitting at 220.49-229.84.

A breakdown here should see continued downside to the quarterly imbalance at 183.49-186.25. Defending the quarterly support at 220.49 should see a breakout of the descending broadening wedge and a rally towards the 307.28-307.64 quarterly imbalance.

The best risk-to-reward for bulls should be at the long-term support trendline (in dark blue) or after HUM breaks out of its descending broadening wedge.

NetEase, Inc. (NASDAQ: NTES)

NTES has been trading in a series of higher highs and lows since 2001. The monthly stochastic is expanding to the upside following a bullish crossover in Jan'25. Initially, it's been tagging the longer-term support trendline (in green) since 2004, but saw a trend markup in 2008 (in dark blue).

NTES broke out of its resistance trendline following last week's price action, tagging the 1.618 Fib extension at 120.35 (0 Fib: 3 & 1 Fib: 75.53) and forming a weekly imbalance at 110.66-116.25. There's also another weekly imbalance at 102.87-104.57.

Should NTES break over 120.35 and turn it into support, it can push a lot higher towards the 2.618 Fib extension at 192.88. However, if it continues to reject at 120.35, it could consolidate sideways and retest its breakout, potentially filling the weekly imbalance at 110.66-116.25 before pushing higher.

@TigerWire @TigerStars @CaptainTiger @TigerEvents @MillionaireTiger

$Johnson & Johnson(JNJ)$ $Humana(HUM)$ $NetEase(NTES)$ $SPDR S&P 500 ETF Trust(SPY)$ $Apple(AAPL)$