Johnson & Johnson (NYSE: JNJ)

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The company distributes its products to general public, retail outlets and distributors, wholesalers, hospitals, and health care professionals for prescription use in the professional fields by physicians, nurses, hospitals, and clinics.
Take a look at the 1-year chart of J&J (NYSE: JNJ) below with the added notations:

Through all of its ups and downs, JNJ is sitting right about where it was at this time last year. During that time, the $96 price level has become very important to the stock. Not only has the $96 level been a repeated support (green), but that level was also a brief resistance area (red) back in the fall. Now that JNJ is back above it, $96 is acting as support once again.

The Tale of the Tape: JNJ has a key level at $96. A trader could enter a long position on a pullback to $96 with a stop placed under the level. However, if traders are bearish on the stock, a short trade could be made instead on a break of the $96 support.