Jpmorgan Chase & Co (JPM) Up 8.99%, Breaks Above 20 Day Average; in a Downtrend Over Past 90 Days

Jpmorgan Chase & Co Daily Price Recap

Jpmorgan Chase & Co is up 8.99% ($7.85) since the previous day, marking a reversal from the day prior — and the end of a 4 day negative run. The change in price came along side change in volume that was down 5.91% from previous day, but up 32.44% from the Sunday of last week. The daily price chart of Jpmorgan Chase & Co below illustrates.

Jpmorgan Chase & Co Technical Analysis

First things first: Jpmorgan Chase & Co crossed above its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 5 out of the past 10 days. Candlestick traders will also want to note that we are seeing a bullish engulfing pattern amidst the downtrend on the 90 day charts; a bullish engulfing pattern amidst a downtrend may signal the downtrend is ready to culminate.

Overheard Around the Web

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

    $COF cap one was swinging around effing oil swaps so that an oil company will give them business??!? Now they are long from 50 and oil is negative Losing billions on the oil and the loans?!!!! Why would anyone deposit cash in this?? $KRE $JPM