J&J vaccine drive stalls out in U.S after safety pause

J&J vaccine drive stalls out in U.S after safety pause

Johnson & Johnson (NYSE:JNJ) is trading down 0.04% at 165.97

Safety concerns about Johnson & Johnson (NYSE:JNJ)’s COVID-19 vaccine along with overall flagging demand for vaccinations have slowed its U.S. rollout to a crawl, leaving close to half of the 21 million doses produced for the United States sitting unused.

J&J’s vaccine was supposed to be an important tool for reaching rural areas and vaccine hesitant Americans because it requires only one shot and has less stringent storage requirements than the two-dose vaccines from Pfizer (NYSE:PFE) Inc/BioNTech SE and Moderna (NASDAQ:MRNA) Inc.  

But Americans have largely eschewed it over the six weeks it has been back in use after a pause to study a rare safety issue, according to data from the U.S. Center for Disease Control and Prevention (CDC) and interviews with health officials and pharmacists in eight states across the country.

“We went from having a waiting list to give somebody a shot to having maybe one shot a day or four shots a day,” Michelle Vargas, owner of independent Lamar Family Pharmacy in Lamar, South Carolina, said of plunging demand for the J&J shot in the small rural community. “They’re concerned for their safety. I think that’s the biggest hurdle right now.”

On technical fronts Johnson & Johnson (NYSE:JNJ) RSI stood at 43.27 and currently stock is trading below all Moving Average. So, SELL position can be taken with following target and stoploss:

TRADE SIGNAL – : Johnson & Johnson – SELL: 165.97, TARGET: 163.91, STOP LOSS : 168.06

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