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Uptrend ExhaustionArchive - 3/15/2024 - Sign In to see current Signals. |
J.P. Morgan Chase & Co. (JPM) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | 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.
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