JP Morgan Trend May Be Changing as Price Just Breached Below Its 20 Day Moving Average

The Hourly View for JP Morgan

  • Currently, JPM’s price is up $0.1 (0.06%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move down.
  • Regarding the trend, note that the strongest trend exists on the 100 hour 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 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • 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 up $1.01 (0.6%) from the day prior.
  • This move is a reversal from the day prior, which saw price move down.
  • Regarding the trend, note that the strongest trend exists on the 100 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 an uptrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Regarding moving averages, it should first be noted that price has crossed the 20 day moving average, resulting in them with price now being above it. 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

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