JP Morgan (JPM) Closes Last Hour Up $0.27; Crosses 50 and 100 Day Moving Averages

The Hourly View for JPM

Last Updated October 8, 2020, 01:020 GMT

Currently, JPM’s price is up $1.86 (1.9%) from the hour prior. The hourly chart shows that JPM has seen 3 straight up hours. Regarding the trend, note that the strongest trend exists on the 100 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

The choppiness in the recent daily price action of Jpmorgan Chase & Co continues; to start today, it came in at a price of 99.73 US dollars, up 1.74% ($1.71) since yesterday. This move happened on lower volume, as yesterday’s volume was down 14.95% from the day before — and down 21.77% from the same day the week before. The daily price chart of Jpmorgan Chase & Co below illustrates.


Jpmorgan Chase & Co Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Jpmorgan Chase & Co crossed above its 50 and 100 day moving averages yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 7 out of the past 10 days.

Overheard Around the Web

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

    $JPM Watch Trump video, CNN is only playing clips, but the entirety of it, The Military is going to be used to deliver the Regeneron Drug Cocktail to Hospitals once Trump sign's the Emergency Use Order. The drug is going to be Free. Trump has put Trump into his Name when that maneuver plays out $SPY $VOO How fast can Trump get this done and to the Hospitals is the question? If Seniors on mass start walking and skipping out of the Hospital, Democrats will be horrified. Trump is probably working hard behind the scenes to get this Drug cocktail in the Hospitals, my guess in days.