Johnson & Johnson may fall to 134.30 - 137.40

Our pivot point stands at 152.3.

Our preference

The downside prevails as long as 152.3 is resistance.

Alternative scenario

Above 152.3, look for 157.3 and 160.5.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 149.128 and 149.4862).

Supports and resistances

160.5 **

157.3 *

152.3 **

150.4

147.08 (USD-last)

140.3

137.4 **

134.3 *

131.4 **

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