Johnson & Johnson pierces descending price channel's ceiling - Analysis - 12-10-2017

Johnson & Johnson's stock (JNJ) jumped in the intraday levels, scoring a fresh profit of 2.05% in the last session, or 2.75 points, and succeeding in piercing the ceiling of that descending correctional price channel in the short term, with positive support from the 50-day SMA, coupled with positive signals from the RSI, as the stock tackles the pivotal resistance of 137.08. 

Therefore we expect more gains for the stock, provided it breaches the resistance of 137.08, targeting the next one at 142.07.