Johnson & Johnson ST : the RSI is overbought

Our pivot point is at 174.64.

Our preference: the upside prevails as long as 174.64 is support

Alternative scenario: below 174.64, expect 170.36 and 167.82.

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 171.60 and 162.38).

Supports and resistances:

193.53 **

190.94 *

188.36 **

185.78

178.84 USD - last

176.32

174.64 **