11.12.2014 - Shares of Johnson & Johnson may drop to the bottom of the channel

The stock price of Johnson & Johnson after a number of unsuccessful attempts to overcome the resistance at 109.00, began to decline, and now has broken a strong level at 106.20. In the case of fixation the price below given level, we recommend to open short positions with a stop above 109.00 and targets at 100.00 and 90.50. The probability of further reduction is high and we recommend to wait for the confirmation of the signal to open short positions.

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