TechnicalsAlso based purely on the price chart, MJN was in a strong downtrend from Apr 10 - May 10 from about $3.55 to $2.15 low. This was followed by a sideways consolidation wedge from May 11 - May 30.
Unfortunately it broke below the bottom of this wedge pattern on May 31 and drifting to lower lows for rest of this week. If the previous low of $2.15 is taken out, then the likelihood of this being the continuation of a second downleg (to match the first) after consolidating is quite high and would imply that the $1.70-$1.80 range would be back in play.
Other MJ plays have already fallen back to their Jan 2017 lows and MJN having not done so yet has held up relatively well. But I do not think their stock is immune to what has been hammering its peers in this sector recently.