Johnson & Johnson slips on profit-taking - Analysis - 20-03-2017

Johnson & Johnson's stock (JNJ) fell in the intraday levels, recording a loss of 0.31% in the last session, or 0.40 points, as traders took profits of past short-term gains, while the stock gathers positive momentum to help it rise again, as long as it settles above the pivotal support of 125.90, amid the dominance of the main upward medium-term trend along the trend line, with ongoing positive pressure from the SMA for the last 50 days period, coupled with a noticeable rise in trading volumes. 

Therefore we expect the stock to return higher in the coming trading, as long as the support of 125.90 holds on, targeting the resistance of 130.62.