Stocks

Johnson & Johnson may rise to 176.00 - 179.50

2024-08-27

Our pivot point stands at 159.1.

Our preference

The upside prevails as long as 159.1 is support.

Alternative scenario

The downside breakout of 159.1 would call for 153.4 and 150.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 160.579 and 154.3034). Finally, Johnson & Johnson is trading above its upper Bollinger band (standing at 164.52).

Supports and resistances

182.9 **

179.5 *

176 **

172.7

164.61 (USD-last)

161.3

159.1 **

153.4 *

150 **

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

This is not investment advice. Past performance does not represent future performance. Your funds are at risk, please trade with caution and responsibility.


Author:

Paul Reid
Tradingtop

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