Johnson & Johnson may fall to 135.70 - 137.80

Our pivot point is at 148.9.

Our preference

The downside prevails as long as 148.9 is resistance.

Alternative scenario

The upside breakout of 148.9 would call for 152.7 and 154.9.

Comment

The RSI is below 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 147.6695 and 148.4828).

Supports and resistances

154.9 **

152.7 *

148.9 **

147.4

145.54 (USD-last)

140.1

137.8 **

135.7 *

133.5 **

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