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Watch for Johnson&Johnson to Potentially Pullback After Gaining 1.78% Yesterday

By Amy Schwartz

Johnson&Johnson (NYSE:JNJ) traded in a range yesterday that spanned from a low of $138.27 to a high of $140.70. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $136.67 on volume of 5.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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.

Over the past year, Johnson&Johnson has traded in a range of $118.62 to $148.99 and is now at $138.85, 17% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

Keywords: rebounders Johnson&Johnson

Ticker(s): JNJ