Johnson & Johnson gives in to negative pressure - Analysis - 08-02-2019

Johnson & Johnson's stock fell 0.71% in the last session, or 0.95 points, after the resistance of 133.81 held on, representing the ratio 50% of Fibonacci retracement levels for an ascending wave in the short term (from 118.62 to 148.99), with negative pressure from the 50-day SMA, coupled with negative signals from the RSI. 

Therefore we expect more losses for the stock, as long as the resistance of 133.81 holds on, targeting the support of 130.22, which represents the ratio 61.8% of the same retracement levels mentioned above. 

Expected trend for today: Bearish