The Greedy Trader Weekly Analysis
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Uptrend Exhaustion

Uptrend Exhaustion stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Uptrend Exhaustion alert indicates that long term uptrend is exhausted and probability of long term trend reversal is high. Uptrend exhaustion stock market alert presents relatively low to medium risk - high reword stock pick for overvalued stocks.

The strategy is based on selling (or taking a short) position on anticipation of uptrend reversal.

Uptrend Exhaustion

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- 3/15/2024 -
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J.P. Morgan Chase & Co. (JPM) Technical Analysis

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Summary:
Weekly :Overbought sectorRelative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overboughtLane's Stochastic and MACD bearish divergenceBroken trend resistance line
Daily :Stochastic signal line moved below overbought areaLane's Stochastic and MACD bearish divergenceDaily  MACD line has moved below its signal lineBullish Piercing Line CandlestickPrice is near the Fibonacci 23.6% retracement level
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It was a ninth consecutive positive week for the J.P. Morgan Chase & Co. (JPM). During the week, the JPM gained 2.08 points, or 1.11%, and closed at 190.30 on Friday, March 15, 2024. Weekly volume was -24% below average.

JPM is a member of Financials Sector. Financials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See JPM long-term trend chart]
A long-term uptrend had started on October 12, 2022 at 101.28 and reached 191.73 on March 13, 2024. JPM gained -90.45 points, or -89.31%, in 74 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (149.31) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See JPM medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 135.19 and reached 191.73 on March 13, 2024. JPM gained -56.54 points, or -41.82%, in 19 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 186.47 and resistance is at 193.29. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See JPM weekly technical indicators chart]
Weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 24, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See JPM short-term trend chart]
A short-term uptrend had started on March 11, 2024 at 186.22 and reached 191.73 on March 13, 2024. JPM gained -5.51 points, or -2.96%, in 2 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See JPM daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

Candlestick pattern: [See JPM candlestick chart pattern]
On Friday the chart has formed a Bullish Piercing Line Candlestick pattern. This pattern suggests bulls have begun to take charge of the market, and shorts have been shaken by the sudden lost of bearish momentum. The reliability of the Bullish Piercing Line pattern is moderate. Use the Technical Stock Screener to see the list of stocks that had a Bullish Piercing Line Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.64
Williams' Percentage Range (W%R) 38.70
Lane's Stochastic (%D-Slow) 75.94
Bearish
Greed/Fear Indicator (GFI) 68.63
Moving Average Converg./Diverg. (MACD) 3.79 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 91.58
Strong Overbought
Williams' Percentage Range (W%R) 9.30
Strong Overbought
Lane's Stochastic (%D-Slow) 93.50
Strong Overbought Bearish
Greed/Fear Indicator (GFI) 83.84
Overbought
Moving Average Converg./Diverg. (MACD) 8.15 Bearish
Trading Signals
Description Value Chart
Monthly Trendline Resistance 193.29
Upper Bollinger Band 192.44
Daily Stochastic Crossing 190.48
Weekly Stochastic Crossing 190.44
Price 190.30
Monthly Trendline Support 186.47
Parabolic System 186.26
20 Day Moving Average 185.89
Quarterly Trendline Resistance 179.41
Lower Bollinger Band 178.52
50 Day Moving Average 177.90
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Diversified Banks 88
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 186.22
Low Date 03/11/2024
High 191.73
High Date 03/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 164.30
Low Date 01/16/2024
High 191.73
High Date 03/13/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 193.29
Support 186.47
Low 135.19
Low Date 10/27/2023
High 191.73
High Date 03/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 179.41
Support 149.31
Low 101.28
Low Date 10/12/2022
High 191.73
High Date 03/13/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 172.96
High Date 10/25/2021
Low 101.28
Low Date 10/12/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.