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Johnson&Johnson (JNJ) Breaks Through Resistance at $133.84

By Nick Russo

Shares of Johnson&Johnson (NYSE:JNJ) have bullishly opened above the pivot of $133.10 today and have reached the first resistance level of $133.84. Investors may be interested in a cross of the next upside pivot targets of $134.58 and $136.06.

Over the past year, Johnson&Johnson has traded in a range of $109.32 to $137.08 and is now at $132.98, 22% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.6%.

Johnson&Johnson has overhead space with shares priced $132.98, or 0.9% below the average consensus analyst price target of $134.24. The stock should discover initial support at its 50-day moving average (MA) of $109.28 and subsequent support at its 200-day MA of $101.66.

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: pivot alerts Johnson&Johnson

Ticker(s): JNJ