Johnson & Johnson retests important resistance - Analysis - 18-10-2021

Johnson & Johnson's stock (JNJ) rose 0.74% in the last session with positive signals from the RSI, while retesting the resistance of 161.88, amid the dominance of the downward correctional trend in the short term, with negative pressure from the 50-day SMA.

Therefore we expect the stock to return lower, targeting the support of 157.25 anew, while the resistance of 161.88 holds on.

Expected trend for today: Bearish