Possible breakout attempt for JNJ’s stock on the monthly chart. As seen on the chart, last month’s candlestick closed strongly and near the very top of the doji, suggesting inflows of liquidity as well as bullish price action. The current share price of $166.89, as the US market has only just opened, is technical trading above the trendline resistance of $164.70. However, only a close above this level would perhaps confirm this breakout. Therefore, investors will be closely monitoring price action this month for further consideration. Nonetheless, looking at the upside, the next resistance reads $175.96. A move above here would certainly incentisize investors as it would create an opportunity for the stock to then chase its all-time high of $187.80. The first key support will be around the previous lower high as this was the trend for the past 28 months. Or respectively, around $163.62. A move below this price level would mean that the price has fallen back below the trendline resistance, suggesting some weakness. The technical factor that could support the stock is the positioning of the MACD. It is at the bottom of the chart and has now turned positive, which points to a possible shift in momentum in favour of the bulls.