Johnson & Johnson ST: the downside prevails as long as 116.8 is resistance

Our pivot point stands at 116.8.

Our preference:the downside prevails as long as 116.8 is resistance.

Alternative scenario: the upside breakout of 116.8 would call for 119.1 and 120.3.

Comment: the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day MA (respectively at 115.37 and 114.94).

Support and resistances:
120.3000
119.1000
116.8000
114.1500 Last
110.1000
108.8000
107.5000

Updated Time: 21/01/2017 07:18 AM