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After Yesterday's Rally of 1.22% Shares Could Potentially Pullback

By David Diaz

Johnson&Johnson (NYSE:JNJ) traded in a range yesterday that spanned from a low of $136.50 to a high of $138.24. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $136.85 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.

Over the past year, Johnson&Johnson has traded in a range of $121.00 to $148.99 and is now at $136.86, 13% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has remained constant.

SmarTrend is tracking the current trend status for Johnson&Johnson and will alert subscribers who have JNJ in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Johnson&Johnson

Ticker(s): JNJ