JNJ touched Support (1) at 153.20, a level holding since June 1st. Along with Support (2) at 150.10 are the major buy levels for the long term. The medium term Resistance is the MA200 (1d).
Trading Plan: 1. Buy on the current market price. 2. If Support (1) breaks, buy on Support (2).
Targets: 1. 162.00 (expected contact point with the MA200 (1d)). 2. 161.00 (expected contact point with the MA200 (1d)).
Tips: 1. The RSI (1d) shows that the stock price in the past 12 months bottoms a little after the RSI forms a Double Bottom. It makes a slightly lower low. Be on the look out for one.
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