JP Morgan (JPM) Price Near $101.52; Doji and Pin Bar Patterns Appearing on Chart, Price Base in Formation Over Past 30 Days, in an Uptrend Over Past 14 Days

The Hourly View for JPM

Last Updated October 16, 2020, 23:10 GMT

At the time of this writing, JPM’s price is down $-0.61 (-0.59%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 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

101.51 was the closing price of the day for Jpmorgan Chase & Co, resulting in today being one in which price moved down 0.21% ($0.21) from yesterday. This move happened on lower volume, as yesterday’s volume was down 23.48% from the day before — and down 19.71% from the same day the week before. The daily price chart of Jpmorgan Chase & Co below illustrates.


Jpmorgan Chase & Co Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For another vantage point, consider that Jpmorgan Chase & Co’s price has gone up 8 of the previous 14 trading days. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.

Overheard Around the Web

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

    $JPM JPM201016C00102000 2020-10-16 2:56PM EDT 102.00 0.16 0.14 0.18 -0.30 -65.22% 11,102 9,006 9.38% Check out the Volume today at 102, look at the Put Open Interest 102 and above, not much. The Market Maker must have enough shares for the put writers so they are working hard to keep the share price below 102. If this closes below 102, those calls won't print. There has to be some nervous types who want those calls to print for some reason. Will the Market Maker allow it? Such a tease for the 102 strike. I can't see it closing about 102, The Market Maker will keep smacking the price down.