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Look for Shares of Johnson&Johnson to Potentially Pullback after Yesterday's 1.26% Rise

By Shiri Gupta

Johnson&Johnson (NYSE:JNJ) traded in a range yesterday that spanned from a low of $138.46 to a high of $138.78. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $138.06 on volume of 2.7 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 $118.62 to $148.99 and is now at $138.73, 17% above that low. The 200-day and 50-day moving averages have moved 0.07% higher and 0.07% lower over the past week, respectively.

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