The Hourly View for JP Morgan
- At the time of this writing, JPM’s price is up $0.03 (0.02%) from the hour prior.
- This is the 2nd hour in a row JP Morgan has seen its price head up.
- Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
- Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning above it. The moving averages on the hourly 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.
JP Morgan’s hourly price chart is shown below.
The Daily View for JP Morgan
- At the time of this writing, JPM’s price is up $0.11 (0.07%) from the day prior.
- It’s been a feast for bulls operating on the daily timeframe, as JP Morgan has now gone up 4 of the past 5 days.
- If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
- 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.
Below is a daily price chart of JP Morgan.
Featured JP Morgan Idea From TradingView
Below is a trading comment entitled The Great men of the trading world you may find interesting:
As a trader of over 20 years, there has been a lot of trial and error. A lot of learning, it’s still continuing! I wanted to share some interesting pointers with the community; People see charts really look deeper than that. I regard a couple of men in trading terms as the “Greats” Would there be others you consider? Why?Let’s start – the only order is the age (timestamp) rather than preference to their work. Charles Henry Dow (November 6, 1851 – December 4, 1902) was an American journalist who co-founded Dow Jones & Company. Little known fact, Dow also co-founded The Wall Street Journal, which has become one of the most respected financial publications in the world. He also invented the Dow Jones Industrial Average as part of his research into market movements. This guy has his own chart. https://www.tradingview.com/x/LVtqdA6Q/He developed a series of principles for understanding and analyzing market behavior which later became known as Dow theory, the groundwork for technical analysis. Dow theory explained The Dow theory is based on the analysis of maximum and minimum market fluctuations to make accurate predictions on the direction of the market.According to the Dow theory, the importance of these upward and downward movements is their position in relation to previous fluctuations. This method teaches investors to read a trading chart and to better understand what is happening with any asset at any given moment. With this simple analysis, even the most inexperienced can identify the context in which a financial instrument is evolving. Furthermore, Charles Dow supported the common belief among all traders and technical analysts that an asset price and its resulting movements on a trading chart already have all necessary information already available and forecasted in order to make accurate predictions.Based on his theory, he created the Dow Jones Industrial Index and the Dow Jones Rail Index (now known as Transportation Index), which were originally developed for the Wall Street Journal. Charles Dow created these stock indices as he believed that they would provide an accurate reflection of the economic and financial conditions of companies in two major economic sectors: the industrial and the railway (transportation) sectors. ———————————————— This is another interesting topic in it’s own right, but not for this article. “Pride of opinion has been responsible for the downfall of more men on Wall Street than any other factor.” Charles Dow. ————————————————Many of our modern techniques fit into Dow theory in some way, shape or form and most people do not realise this. ===================================================================================================================================== R.N Elliott – Elliott waves to most Ralph Nelson Elliott (28 July 1871 – 15 January 1948) was an American accountant and author, whose study of stock market data led him to develop the Wave Principle, a form of technical analysis that identifies trends in the financial markets. He proposed that market prices unfold in specific patterns, which practitioners today call Elliott waves.Elliott Said “The forces that cause market trends have their origin in nature and human behaviour” as well as “Forces travel in waves, as demonstrated by Galileo, newton and other scientists.” ——————————————– Wave Theory In the early 1930s, Elliott began his systematic study of seventy-five years of stock market data, including index charts with increm…