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Johnson&Johnson (JNJ) Crosses Pivot Point Resistance at $123.16

By James Quinn

Shares of Johnson&Johnson (NYSE:JNJ) have bullishly opened above the pivot of $122.56 today and have reached the first resistance level of $123.16. Should the shares continue to rise, the resistance pivots of $123.79 and $125.02 will be of interest.

In the past 52 weeks, Johnson&Johnson share prices have been bracketed by a low of $118.62 and a high of $148.32 and are now at $123.54, 4% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has remained constant.

Potential upside of 17.4% exists for Johnson&Johnson, based on a current level of $123.54 and analysts' average consensus price target of $145.00. Johnson&Johnson shares should first meet resistance at the 50-day moving average (MA) of $125.45 and find additional resistance at the 200-day MA of $133.58.

SmarTrend recommended that its subscribers protect gains by selling shares of Johnson&Johnson on January 31st, 2018 by issuing a Downtrend alert when the shares were trading at $140.34. Since that call, shares of Johnson&Johnson have fallen 12.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts Johnson&Johnson

Ticker(s): JNJ