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.
Personally I’m long from ~$150 but your view is worth considering too.
Candles254
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@donshaswat9, Price was unable to break above the resistance. $150 is very possible. I have a small buy order at $140 as profit-taking from late December to early January brings the price lower. Interest rate uncertainty will probably drag the market lower.