Johnson & Johnson climbs amid negative pressures - Analysis - 21-03-2018

Johnson & Johnson's stock (JNJ) rose in the intraday levels, scoring a profit of 0.74% in the last session, or 0.97 points, while settling below the resistance of 133.42, representing the ratio 38.2% of Fibonacci retracement levels for an ascending wave in the medium term (from 94.28 to 148.32), with negative signals from the RSI, coupled with negative pressure from the 50-day SMA. 

Therefore we expect the stock to return lower, as long as the resistance of 133.42 holds on, targeting the support of 128.82, which represents the ratio 50% of the same retracement levels.