Johnson & Johnson ST : the RSI is overbought

Our pivot point is at 157.15.

Our preference: the upside prevails as long as 157.15 is support

Alternative scenario: below 157.15, expect 153.77 and 151.76.

Comment: the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 154.60 and 154.12). Finally, the Johnson & Johnson is trading above its upper Bollinger band (standing at 161.30).

Supports and resistances:

176.56 **

174.47 *

172.39 **

170.30

164.78 USD - last

158.47

157.15 **