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Look for Shares of Johnson&Johnson to Potentially Rebound after Yesterday's 1.38% Sell Off

By Nick Russo

Johnson&Johnson (NYSE:JNJ) traded in a range yesterday that spanned from a low of $125.32 to a high of $127.50. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $126.06 on volume of 4.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is monitoring the recent change of momentum in Johnson&Johnson. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Johnson&Johnson in search of a potential trend change.

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 $125.99, 6% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

Keywords: rebounders Johnson&Johnson

Ticker(s): JNJ