JP Morgan Does it Again: Heads Down for the 2nd Straight Day

The Hourly View for JP Morgan

  • At the moment, JPM’s price is up $0.19 (0.11%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved down.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
  • The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

JP Morgan’s hourly price chart is shown below.

JPM

The Daily View for JP Morgan

  • At the time of this writing, JPM’s price is down $-0.16 (-0.1%) from the day prior.
  • JP Morgan has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
  • Regarding the trend, note that the strongest trend exists on the 20 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on JP Morgan. Given that we see downtrend on the 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
  • Divergence between JPM’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in JPM’s price.

Below is a daily price chart of JP Morgan.

JPM

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