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Kenvue Inc. (NYSE:KVUE) — the parent company of well-known pharmacy items like Listerine, Mylanta, and Tylenol — is showing a bullish pattern on the charts Tuesday.
The short-term moving average crossed above a long-term one, a signal that Kenvue's stock may be gearing up for another big move.
See below.
Chart created using Benzinga Pro
With the stock already climbing 5.12% in the past year, 7.56% year-to-date, and a whopping 10% over the last month, things are heating up fast for this Johnson & Johnson (NYSE:JNJ) spin-off.
Let's talk numbers.
Kenvue's stock is trading at $23.20, comfortably above key moving averages. The eight-day simple moving average sits at $22.33, the 20-day SMA is $21.87 and the 50-day SMA trails at $19.94. That's a lot of bullish signals!
Add in the fact that the 200-day SMA is $19.98, and we're on the cusp of a Golden Cross. For traders, that's like hearing the opening bell at a heavyweight title fight—it's go time!
Chart created using Benzinga Pro
If that's not enough to get the bulls excited, Kenvue just scored a big legal win. The company successfully defended itself against a lawsuit over its Tylenol ‘Rapid Release' gelcaps, with plaintiffs claiming they didn't work any faster than regular Tylenol.
Kenvue came out swinging, proving that consumers weren't misled. A victory in the courtroom and strong momentum in the market? Talk about a one-two punch.
Read Also: Johnson & Johnson-Spin Off Kenvue Wins Lawsuit Over Pain Killer Tylenol ‘Rapid Release’ Gelcaps
Kenvue isn't just riding a wave of legal victories and technical indicators—it's also backed by some of the biggest names in consumer health. With a portfolio that also includes Aveeno, Band-Aid, Benadryl, Combantrin and Zyrtec, Kenvue is flexing its brand muscle, generating $15 billion in annual revenue.
Even in a crowded and competitive space, these brands dominate their categories. The company's ability to pivot and innovate (hello, retro Tylenol!) keeps it at the top.
Kenvue is on the verge of a Golden Cross and boasts a strong brand lineup, the bullish momentum looks poised to continue.
But will it be enough to silence the bears? Only time — and the next few trading days — will tell.
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Image: Shutterstock
