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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: BubbaFred who wrote (16216)	10/6/1998 7:42:00 AM
From: Jenna	Respond to of 120523

JNJ near it's 52 week high. The chart is fine with MACD bullish, Relative Strength bullish and volume indicators (klinger, OBV) showing JNJ still under accumulation. .. All moving averages are bullish and turning upwards. JNJ reports on October 13, I don't feel it will be down before earnings but up on anticipation. Still it could be pretty fully valued by 82-83, but I wouldn't sell it yet. It has 4 straight quarters of double digit growth and looks like 12-13% in the next few years. I would not sell until I saw a negative trend reversal. Some are actually calling JNJ a "BUY".. and I noticed major mutual funds have been buying SGP, ABT, WLA and MRK as late as Monday October 5.