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Johnson&Johnson (JNJ) Approaches New Upside Target of $153.52

Comtex SmarTrend(R) - Mon May 18, 9:08AM CDT

Johnson&Johnson (NYSE:JNJ) has opened bullishly above the pivot of $148.70 today and has reached the first level of resistance at $151.74. Should the shares continue to rise, the resistance pivots of $153.52 and $158.34 will be of interest.

Based on a current price of $152.53, Johnson&Johnson is currently 4.9% above its average consensus analyst price target of $145.00. The stock should find initial support at its 50-day moving average (MA) of $140.24 and further support at its 200-day MA of $138.17.

In the past 52 weeks, Johnson&Johnson share prices have been bracketed by a low of $109.16 and a high of $157.00 and are now at $152.53, 40% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.3%.

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.

Write to SmarTrend at cs@mysmartrend.com

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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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