Johnson & Johnson breaking down?

BATS:JNJ   Johnson & Johnson
Johnson & Johnson broke below a decade-old trendline after recording the highest sell-off volume in its history and remained suppressed below the 50-month Moving Average. Technical resistance will be at play and the probability of breaking higher is pretty low unless some fundamental forces come into play.
The entry price is a bit pessimistic but such a huge sell volume on a three-month price decline can suppress the price. Plus a Bearish stochRSI divergence and an expected decline in earnings. Maybe we will see a gradual decline in the stock price.

Worth monitoring.


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