Johnson & Johnson sharpens decline - Analysis - 13-09-2021

Johnson & Johnson's stock (JNJ) kept falling after piercing the main upward trend line recently, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI despite reaching oversold levels, recouping some recent losses. 

Therefore we expect more losses for the stock, targeting the support of 161.88, provided the resistance of 172.70 holds on.

Expected trend for today: Bearish