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Look for Shares of Johnson&Johnson to Potentially Pullback after Yesterday's 1.57% Rise

By David Diaz

Johnson&Johnson (NYSE:JNJ) traded in a range yesterday that spanned from a low of $138.04 to a high of $139.53. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $138.27 on volume of 733,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Johnson&Johnson share prices have been bracketed by a low of $121.00 and a high of $148.99 and are now at $139.52, 15% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

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