As discussed on November 14, 2025, Johnson & Johnson was still tracking an extended wave 3 structure with further upside potential. Since then, price has turned lower and retraced more deeply than initially expected, but the move still appears corrective rather than a trend reversal. CHECK IT HERE
The current decline continues to respect key trendline support from the June 2025 lows, suggesting the pullback is likely part of a higher-degree wave 4 correction, potentially unfolding as a complex WXY structure. From a broader perspective, the larger bullish impulse from early 2025 still appears incomplete, leaving room for a possible final wave 5 to the upside once the correction completes. Key support is now seen at 215–225, with deeper support at 210–200 (38.2% retracement).
Highlights
. Pullback still looks counter-trend, complex WXY correction
. Key support zone at 215–225
. Next support near 210-200 (38.2%)
. Bullish wave five still possible on higher timeframe
Become a premium member
Get daily Elliott Wave updates for US Single Stocks, SP500,DAX, GOLD, SILVER, CRUDE, FX, CRYPTO, etc. or apply for unlimited access to the Elliot Wave educational videos.