Momentum Reversal? JP Morgan’s Heads Down for the First Time in 3 Days

The Hourly View for JP Morgan

  • Currently, JPM’s price is up $0.2 (0.12%) from the hour prior.
  • The hourly chart shows that JP Morgan has seen 2 straight up hours.
  • 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 above them. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

JP Morgan’s hourly price chart is shown below.

JPM

The Daily View for JP Morgan

  • Currently, JPM’s price is down $-0.11 (-0.07%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on JP Morgan. Given that we see an uptrend on the 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Below is a daily price chart of JP Morgan.

JPM

Featured JP Morgan Commentary From Twitter

$ASAN pt Raised to $50 @ JMP
$AVGO pt $585 @ JPM from 570
$AVGO pt $520 @ WFC from 490
$CAT PT Raised to $273 from $259
$CIEN PT $70 @ Citi
$GM PT Raised to $73 from $71 after Company Raised their Guidance yesterday
$UPS PT Raised @ RJ to $240 From $233NA

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