Johnson & Johnson ST: the upside prevails as long as 124.5 is support

Our pivot point stands at 124.5.

Our preference:the upside prevails as long as 124.5 is support.

Alternative scenario: below 124.5, expect 121.6 and 119.9.

Comment: the RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is above its 20 and 50 day MA (respectively at 125.3 and 124.91). Johnson & Johnson is currently trading near its 52 week high reached at 129 on 15/03/17.

Support and resistances:
126.9200 Last

Updated Time: 29/05/2017 08:33 AM