Johnson & Johnson may rise to 170.40 - 172.20

Our pivot point is at 161.6.

Our preference

The upside prevails as long as 161.6 is support.

Alternative scenario

The downside breakout of 161.6 would call for 158.8 and 157.

Comment

The RSI is above its neutrality area at 50. 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 161.8405 and 162.8796).

Supports and resistances

173.9 **

172.2 *

170.4 **

168.8

165.12 (USD-last)

162.8

161.6 **

158.8 *

157 **

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