Johnson & Johnson keeps the rising trials - analysis - 06/05/2016

The trades of  JOHNSON & JOHNSON shares closed slightly higher on Thursday by  (0.66) point (0.59  %) after retesting the channel’s top board which the price moved within its range previously, as its noticed the price increasing for the 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, 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 positive expectation remains for the med and long trades by the stability above 112.40 to target then the next resistance at 116.00 level.