Shares of Johnson & Johnson, one of the leading retail holdings, are trading within a long-term downward channel. In mid-March, the price rose to its upper limit of 162.50 (Murrey level [8/8]), reversed, entered the negative part of Murrey’s trading range and is now testing the pivot point of 153.12 (Murrey level [2/8]), a breakout will allow the asset to reach the area of 150.00 (Murrey level [0/8]) and 148.44 (Murrey level [–1/8]).