Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.
Johnson & Johnson's stock rallied 1.37% in the last session while trading within a descending price channel that guided recent short-term trading, with negative pressure from the 50-day SMA, as the RSI reached overbought levels.
Therefore we expect the stock to return lower, targeting the pivotal support of 137.29, provided the resistance of 144.92 holds on.
Expected trend for today: Bearish