Johnson & Johnson (JNJ.US) stock rose 1.5% after the U.S. FDA endorsed the drugmaker's one-shot Covid-19 vaccine which appeared safe and effective in trials. New data showed the vaccine was 64% effective at stopping moderate to severe cases of COVID-19 after 28 days in thousands of trial participants in South Africa where a new variant has swept across the country. Overall, the vaccine was 100% effective at stopping hospitalization 28 days after vaccination, compared with 85% at 14 days, and there were no COVID-19 deaths among those who received the shot rather than a placebo. FDA’s Vaccines and Related Biological Products Advisory Committee, will meet on Friday to review company's request for emergency use authorization.
Johnson & Johnson (JNJ.US) stock bounced off the lower limit of the ascending channel which coincides with 50 SMA (green line) and support at $160.23. If the current sentiment prevails, upward move could be extended to the $167.77 handle or even $173.71 handler where all-time high is located. Source: xStation5
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