JPMORGAN CHASE & CO.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 210.00 |
| Take Profit | 223.00 |
| Stop Loss | 207.00 |
| Key Levels | 191.00, 196.00, 203.40, 207.00, 208.00, 210.00, 223.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 204.00 |
| Take Profit | 191.00 |
| Stop Loss | 210.00 |
| Key Levels | 191.00, 196.00, 203.40, 207.00, 208.00, 210.00, 223.00 |
Shares of JPMorgan Chase & Co., one of the largest transnational financial conglomerates in the United States, are correcting at 208.00.
On the daily chart, the price is moving within an ascending channel with dynamic boundaries of 223.00–196.00, preparing to continue growing.
On the four-hour chart, the quotes are trying to cover the price gap of 207.00–203.40. Then, the positive dynamics will receive a new impetus. A decline in the asset is unlikely, and short positions are relevant only after consolidation below the support level of 204.00.
Technical indicators remain uncertain: fast EMA on the Alligator indicator are approaching the signal line, narrowing the range of fluctuations, and the AO histogram is forming correction bars in the sell zone.
Trading tips
Long positions may be opened after the price rises and consolidates above 210.00, with the target at 223.00. Stop loss is 207.00. Implementation period: 7 days or more.
Short positions may be opened after the price falls and consolidates below 204.00 again, with the target at 191.00. Stop loss is 210.00.
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