Johnson & Johnson may fall to 137.10 - 140.10

157 is our pivot point.

Our preference

As long as 157 is resistance look for 140.1.

Alternative scenario

Above 157, look for 162.3 and 165.4.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI should trigger further gains. Moreover, the share stands below its 20 and 50 day moving average (respectively at 150.1915 and 151.5522).

Supports and resistances

165.4 **

162.3 *

157 **

155

149.7 (USD-last)

143.3

140.1 **

137.1 *

134 **

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