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Johnson & Johnson Surges Into New All-Time-High Territory

Shares of Johnson & Johnson (JNJ - Get Report) are trading at new all-time highs following this morning's strong earnings results. The stock began the action today with a powerful upside gap that lifted the stock to fresh April highs. Since the bell, Johnson & Johnson has remained well-bid despite the fade in the major indices.

With layers of solid support now in place, this news-inspired breakout is set up well for more upside. Patient Johnson & Johnson investors should take advantage of weakness in the near term.

In late March, Johnson & Johnson's powerful rally off the January lows reached a major resistance area. This key zone near...