Johnson & Johnson ends cautiously higher - Analysis - 27-10-2021

Johnson & Johnson's stock (JNJ) rose 1.02% in the last session, settling at 165.75, amid the dominance of the downward correctional trend in the short term, with negative pressure from the 50-day SMA, with negative signals from the RSI after reaching overbought levels.

Therefore we expect the stock to return lower, targeting the first support at 161.90, provided the resistance of 167.55 holds on.

Expected trend for today: Bearish