Johnson & Johnson

J&J may not meet U.S. COVID-19 vaccine supply target by spring

Johnson & Johnson (NYSE:JNJ) is facing unexpected delays in the manufacturing of its coronavirus vaccine and may not be able to supply the doses it promised the federal government by spring, the New York Times reported on Wednesday.

U.S. federal officials have been told that J&J has fallen as much as two months behind the original production schedule and will not catch up until the end of April, when it was supposed to have delivered more than 60 million doses, citing people familiar with the situation.

The company and the U.S. Department of Health and Human Services did not immediately respond.

Earlier this week, J&J’s chief executive officer said the company was on track to have close to a billion COVID-19 vaccine doses by 2021-end.

On technical fronts J&J’s RSI stood at 62.12 and currently stock is trading below 5 days MA and above 20 and 50 days moving averages. So, BUY position can be taken with following target and stoploss:

TRADE SIGNAL – : J&J’s – BUY: 158.12, TARGET: 160.81, STOPLOSS : 157.32