Johnson & Johnson rise again - analysis - 26-05-2016

The trades of  JOHNSON & JOHNSON shares closed higher on Wednesday by    (0.66) point  (0.59  %), as its noticed that the price increased its bullish movement which passed the channel’s resistance the price moved within its range previously, also the price passed the resistance level 112.40 that represents 1.61%  continuous level for the decline from 105.05 to 94.55, as the price was able to forma rising bottoms round 111.70 support, comes after holding above 109.50 level again representing the highest record in November 2014.

SMA 50 and 100 supports the positive direction, in addition of holding above the current support 109.50.

The expected direction remains bullish by holding above 111.70 support with initial target around 116.00 resistance; and stop losses recommended to be below 111.70.