Bearish
$JNJ $SPY Trade Idea: Going back exactly two years the high 140's have been strong resistance for JNJ. Based on Stochastic and RSI I believe this is going to be another reject. Over the next week I expect to see this revisit the 142 area which has been support in this range. On the other side if this does breakup above 146 I will get long very quickly. Though I am leaning towards a pull back first. Will probably watch for most of tomorrow before entering any sort of play. Follow for trade discussion and analysis
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