JPM breaks below 50-day moving average
JPMorgan Chase & Co. (JPM) Technical Analysis Report for Sep 14, 2018
JPM finished the week -0.72% lower at 113.50 after edging lower $0.02 (-0.02%) today. Trading $0.68 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was $1.26 (1.11%), that's slightly above last trading month's daily average range of $1.22. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
Prices are trading close to a key support level at 112.97.
While JPMorgan is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive. The share broke below the 50-day moving average at 113.63 today for the first time since September 12th.
Buying might accelerate should prices move above the close-by swing high at 114.88 where further buy stops could get activated. Selling might speed up should prices move below the nearby swing low at 112.67 where further sell stops could get triggered.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for JPMorgan Chase & Co.
|Condition||Forecast||Direction||Direction||Win Rate||Win Rate||Exit Day||Exit Day||Events|
|Bullish Break through SMA 50||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|Close to Swing Low||TQ Pro Members Only|
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