Johnson & Johnson may rise to 168.90 - 171.80

152.4 is our pivot point.

Our preference

The upside prevails as long as 152.4 is support.

Alternative scenario

Below 152.4, expect 147.9 and 145.1.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 150.3795 and 149.0114). Finally, Johnson & Johnson has crossed above its upper daily Bollinger band (159.21).

Supports and resistances

174.6 **

171.8 *

168.9 **

166.2

159.64 (USD-last)

154.3

152.4 **

147.9 *

145.1 **

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