(Finance) – Neglected session for Johnson & Johnsonshowing a shy -0.12%, after announcing that it had acquired Shockwave Medical for $13.1 billion.
The acquisition of Shockwave further extends Johnson & Johnson MedTech’s position in cardiovascular intervention and accelerates its move into higher-growth markets, it said in a statement.
“With our focus on innovative medicine and MedTech, Johnson & Johnson has a long history of fighting cardiovascular disease, the leading cause of death globally,” commented CEO Joaquin Duato. “The acquisition of Shockwave and its technology IVL Leader offers a unique opportunity to accelerate our impact in cardiovascular intervention and generate greater value for patients, shareholders and healthcare systems.”
The progress of American multinational company that produces drugs and personal care products in the week, compared to Dow Jonesdetects a lower relative strength of the stock, which could become prey to sellers ready to take advantage of potential weaknesses.
The technical framework of Johnson & Johnson signals a widening of the negative trend line with a descent to the support seen at 151.6 USD, while on the upside it identifies the resistance area at 153. The forecasts are of a possible further retreat with the target set at 151.