After Yesterday's Rally of 1.11% Shares Could Potentially Pullback
Johnson & Johnson (NYSE:JNJ) traded in a range yesterday that spanned from a low of $119.16 to a high of $120.73. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $119.41 on volume of 3.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that subscribers consider buying shares of Johnson & Johnson on January 28th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $102.45. Since that recommendation, shares of Johnson & Johnson have risen 16.5%. We continue to monitor JNJ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Johnson & Johnson share prices have moved between a 52-week high of $120.40 and a 52-week low of $81.79 and are now trading 47% above that low price at $120.38 per share. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.6%.
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