Double Top Resistance Approaching Quickly On $JNJ.

Healthcare products maker Johnson & Johnson (NYSE:JNJ) is nearing a double top resistance point on the stock chart. The level is $126 and is the former all-time high on the stock from July 2016. A double top on the stock chart is a technical term that tells investors there will be heavy selling at that point. It likely will be tough for Johnson & Johnson to go higher in the near-term. Often, investors and traders will sell double tops short, profiting when the stock pulls back. That is what I will be looking to do if Johnson & Johnson hits double top this week. The stock has run too far, too fast in the last few weeks. In the last month, Johnson & Johnson is up from $111 to $124. For this historically slow moving stock, that is insane.


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