Johnson & Johnson sharpens decline - Analysis - 25-05-2023

Johnson & Johnson's stock (JNJ) fell in the intraday levels, amid the dominance of the main downward trend in the medium term, with negative pressure from the 50-SMA, marking a fresh loss of 0.10% in the last session, or 15 cents, and settling at 156.66, while the RSI reached oversold levels compared to the stock's movements, leading to even more upcoming losses. 

Therefore we expect more losses for the stock, targeting the pivotal support of 150.70, provided the resistance of 159.00 holds on.

Expected trend for today: Bearish