JP Morgan (JPM) Price Near $100.58; Crosses 20 Day Moving Average, Pin Bar Pattern Appearing on Chart, Nears 20 Day Moving Average

The Hourly View for JPM

Last Updated September 10, 2020, 15:12 GMT

At the moment, JPM’s price is up $1.19 (1.18%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 and 50 hour moving averages have been crossed, with price now being below them. 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 choppiness in the recent daily price action of Jpmorgan Chase & Co continues; to start today, it came in at a price of 100.87 US dollars, up 0.95% ($0.95) since the previous day. This move happened on lower volume, as yesterday’s volume was down 39.47% from the day before — and down 2.78% from the same day the week before. The daily price chart of Jpmorgan Chase & Co below illustrates.

JPM

Jpmorgan Chase & Co Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Jpmorgan Chase & Co crossed above its 20 day moving average 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 up. For another vantage point, consider that Jpmorgan Chase & Co’s price has gone up 7 of the previous 14 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

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

    $WFC $BAC $JPM I think I am one of the only people glad there is a fall stress test. This will prove the point that the banks continue to be well reserved and well capitalized. It will even prove just how much of a tech business they really are.

    Schornack