JP Morgan (JPM) Closes Prior Hour Down -0.36%; 4 Day Up Streak Ended, Breaks Below 50 and 100 Day Averages, is Inching Close to 100 Day Average

The Hourly View for JPM

Last Updated October 7, 2020, 02:017 GMT

At the moment, JPM’s price is up $0.53 (0.54%) from the hour prior. The hourly chart shows that JPM has seen 2 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Jpmorgan Chase & Co Daily Price Recap

Jpmorgan Chase & Co’s 4 day positive streak has officially concluded, as the candle from the day prior closed down 1.03% ($1.02). As for how volume fared, yesterday’s volume was up 38% from the previous day (Monday), and up 44.03% from Tuesday of the week before. Here is a daily price chart of Jpmorgan Chase & Co.


Jpmorgan Chase & Co Technical Analysis

First things first: Jpmorgan Chase & Co crossed below its 50 and 100 day moving averages yesterday. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For another vantage point, consider that Jpmorgan Chase & Co’s price has gone up 15 of the previous 30 trading days.

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about JPM:


    The market is not a fun game for Market Makers.

    After ponying up 4 million for a seat or leasing that seat for $660,000 per year, they need to win big time to just turn even.
    If you're day trading, you up against these serious devils. They want to take you out ; they don't want just some of your hard earn cash, they want it all…
    They know what stocks/etf's you like. They see the big picture. They know how many want to sell and how many want to buy. They can legally set it up to make the price go sky high or straight down to the bottom. They're the dealers, you're the player and it's their casino.

    But there are day traders (smart savvy pros), who can disrupt the specialist/market maker in their setups for the day. They can mirror the actions and sometimes foresee their plans.
    One market maker outfit, $JPM 's investment arm, got fined $953 million by the SEC trying to fake out these guys by illegal Spoofing. Market Makers HATE day traders.