Johnson & Johnson Wave Analysis – 16 January, 2020

• Johnson & Johnson broke key resistance level 146.90
• Likely to rise to 148.70

Johnson & Johnson continues to rise after the earlier breakout of the key resistance level 146.90 (monthly high from December).

The breakout of the resistance level 146.90 continues the active weekly impulse wave 3 and is aligned with the longer-term uptrend from 2015.

Johnson & Johnson is likely to rise further toward the next multi-year resistance level 148.70 (which stopped the sharp uptrend at the end of 2018) – from where the price is likely to correct down.