JP Morgan (JPM) Closes Prior Hour Up 0.24%; Breaks Below 20 Day Average

The Hourly View for JPM

Last Updated September 11, 2020, 15:12 GMT

At the time of this writing, JPM’s price is down $-0.12 (-0.12%) from the hour prior. This is the 2nd straight hour JPM has seen its price head up. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. Of note is that the 50 hour changed directions on JPM; it is now pointing down. 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

99.83 was the closing price of the day for Jpmorgan Chase & Co, resulting in today being one in which price moved down 1.03% ($1.04) from yesterday. As for how volume fared, yesterday’s volume was up 18.48% from the previous day (Wednesday), and up 12.02% from Thursday of the week before. Let’s take a look at the daily price chart of Jpmorgan Chase & Co.

JPM

Jpmorgan Chase & Co Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Jpmorgan Chase & Co crossed below its 20 day moving average yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 30 days Jpmorgan Chase & Co’s price has gone down 16 them.

Overheard Around the Web

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

    $UBER all $JPM staff ordered back to work sep 21. How you think they gettin to the office….subway?? F no…too much covid. They are going to take uber….much less covid. $SPY

    homer212