JP Morgan (JPM) Closes Last Hour Down $-0.59; Pin Bar Pattern Appearing on Chart

The Hourly View for JPM

Last Updated September 16, 2020, 23:7 GMT

Currently, JPM’s price is up $0.28 (0.28%) from the hour prior. The hourly chart shows that JPM has seen 2 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on JPM. Given that we see downtrend on the 20 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 choppiness in price, as the 20, 50 and 100 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

The back and forth price flow continues for Jpmorgan Chase & Co, which started today off at 99.7 US dollars, up 0.42% ($0.42) from the day prior. This move happened on lower volume, as yesterday’s volume was down 18.81% from the day before — and down 27.01% from the same day the week before. Here is a daily price chart of Jpmorgan Chase & Co.


Jpmorgan Chase & Co Technical Analysis

Notably, Jpmorgan Chase & Co is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. For another vantage point, consider that Jpmorgan Chase & Co’s price has gone up 17 of the previous 30 trading days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to JPM:

    $JPM Form 8-K: On September 16, 2020, JPMorgan Chase & closed a public offering of $1,000,000,000 aggregate principal amount of Fixed-to-Floating Rate Notes due 2024. The Notes were registered under t..