Johnson & Johnson may fall to 153.10 - 154.90

164.7 is our pivot point.

Our preference

The downside prevails as long as 164.7 is resistance.

Alternative scenario

Above 164.7, look for 168 and 169.7.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the share stands below its 20 and 50 day moving average (respectively at 164.107 and 162.4064).

Supports and resistances

169.7 **

168 *

164.7 **

163.4

161.17 (USD-last)

156.8

154.9 **

153.1 *

151.2 **

Number of asterisks represents the strength of support and resistance levels.