I expect JNJ to bounce off its 50 day MA at $67.78 as it approaches it’s ex dividend date on August 24th. If you plan on holding beyond the next few days, the DePuy hip replacement settlements seem to be factored into the current price. With it’s out-sized dividend and a sizable discount to its net present value, this may be an opportune time to build a position in this high yielding blue chip. The caveat though is if it doesn’t bounce here, there’s a lot of daylight below.
