New bullish technical picture drawn on Johnson & Johnson daily chart. The main trend is up.
Johnson & Johnson Monday, Dicember 12 stock closing price was at 115.36 (+2.76%). New bullish technical picture drawn on daily chart (high2 < high1, high1 < high, low2 < low1, low1 < low, close > close1, close1 > close2), we suggest to watch today closing. The main trend is up on the daily chart, the bulls are in control. The positive value of many leading oscillators indicates infact an upward trend.
View the interactive chart on ProRealTime.com
Simple Moving Average (SMA)
Strong bullish signal: crossed above the 14-day moving average (SMA value is 112.42). Today trading session forecast is for further price extensions towards the most significant resistance levels. However, the buy signal should be confirmed with increasing volume.
Daily chart shows an increase in volumes compared to the previous day. This could be a sign of a significant move to come.
Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 12/12/2016.
Performance: 7 trading days= +3.04% – 15 trading days= +0.31% – 30 trading days= -0.54%
Resistance levels: R1= 116.31 – R2= 117.27 – R3= 120.09
Pivot Point: 114.45
Support levels: S1= 113.49 – S2= 111.63 – S3= 108.81
Buying opportunity above 115.61, targets minor resistance at 117.04 and perhaps as far as strong resistance at 118.05, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 120.60.
Selling opportunity below 114.69, targets minor support at 113.27 and perhaps as far as strong support at 112.29, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 109.80.