Johnson & Johnson may rise to 156.50 - 158.90

Our pivot point is at 143.9.

Our preference

Short term rebound towards 156.5.

Alternative scenario

The downside breakout of 143.9 would call for 139.7 and 137.4.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the stock is trading above its 20 day moving average (146.5255) but under its 50 day moving average (148.116).

Supports and resistances

161.3 **

158.9 *

156.5 **

154

147.19 (USD-last)

145.3

143.9 **

139.7 *

137.4 **

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