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TMCNet:  Johnson & Johnson (JNJ) Crosses Pivot Point Support at $69.15

[November 26, 2012]

Johnson & Johnson (JNJ) Crosses Pivot Point Support at $69.15

Nov 26, 2012 (SmarTrend(R) News Watch via COMTEX) -- Johnson & Johnson (NYSE:JNJ) has opened bearishly below the pivot of $69.36 today and has reached the first level of support at $69.15. Analysts will be watching for a cross of the next downside pivot targets of $68.75 and $68.14.


Johnson & Johnson has overhead space with shares priced $69.04, or 8.9% below the average consensus analyst price target of $75.82. Johnson & Johnson shares should encounter resistance at the 50-day moving average (MA) of $69.08 and support at its 200-day MA of $66.47.

In the past 52 weeks, Johnson & Johnson share prices have been bracketed by a low of $61.05 and a high of $72.74 and are now at $69.04, 13% 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 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.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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