Johnson & Johnson tries to vent off oversold saturation - Analysis - 06-12-2021

Johnson & Johnson's stock (JNJ) rose 1.46% in the last session while trying to vent off oversold saturation in the RSI amid positive signals out of them, settling at 159.38, amid the dominance of the downward correctional short-term trend, with negative pressure from the 50-day SMA.

Therefore we expect the stock to return lower, targeting the support of 151.50, provided the support of 156.45 was breached.

Expected trend for today: Bearish