Johnson & Johnson may fall to 133.30 - 136.20

Our pivot point stands at 151.4.

Our preference

The downside prevails as long as 151.4 is resistance.

Alternative scenario

The upside breakout of 151.4 would call for 156.5 and 159.5.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 149.0177 and 149.4074).

Supports and resistances

159.5 **

156.5 *

151.4 **

149.5

147.41 (USD-last)

139.3

136.2 **

133.3 *

130.3 **

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