JP Morgan is Up for the 2nd Day in a Row

The Daily View for JP Morgan

  • At the time of this writing, JPM’s price is up $0.7 (0.46%) from the day prior.
  • This move is a reversal from the day prior, which saw price move down.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on JP Morgan. Given that we see an uptrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Of note is that the 100 day changed directions on JPM; it is now pointing up. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

JP Morgan’s hourly price chart is shown below.

JPM

The Daily View for JP Morgan

  • Currently, JPM’s price is up $1.13 (0.74%) from the day prior.
  • This is the 2nd day in a row JP Morgan has seen its price head up.
  • Regarding the trend, note that the strongest trend exists on the 100 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.

JPM

Featured JP Morgan Commentary From Twitter

*BOFA SETS BOND SALE SIZE AT $15 BLN, BIGGEST EVER FOR A BANK

One day after record $13BN JPM issueNA

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