JPM breaks below 50-day moving average

JPMorgan Chase & Co. (JPM) Technical Analysis Report for Sep 14, 2018

Highlights

JPM breaks below 50-day moving average
JPM closes below its opening price unable to hold early session gains
JPM closes within previous day's range
JPM ends the day indecisive

TQ Sentiment

Report Sentiment: 28% Bearish
Technical Forecast:

Overview

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.

Daily chart for JPM

Volatility

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.

Support/Resistance

Prices are trading close to a key support level at 112.97.

Trend

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.

Order Flow

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.

Conclusion

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 Win Rate 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
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Latest Report:

JPM finds buyers again around 113.30

Sep 17, 2018
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when JPMorgan Chase & Co. traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Market Movers

Related Stocks

ACGL 10 day candlestick chart for ACGL 30.18 -0.22 (-0.72%)
ADS 10 day candlestick chart for ADS 246.12 4.64 (1.92%)
AFG 10 day candlestick chart for AFG 112.03 -0.98 (-0.87%)
AFL 10 day candlestick chart for AFL 47.05 -0.16 (-0.34%)
AGO 10 day candlestick chart for AGO 40.33 -0.26 (-0.64%)
AHL 10 day candlestick chart for AHL 41.30 0.10 (0.24%)
AIG 10 day candlestick chart for AIG 53.30 0.05 (0.09%)
AIZ 10 day candlestick chart for AIZ 103.95 0.10 (0.10%)
AJG 10 day candlestick chart for AJG 75.12 0.23 (0.31%)
ALLY 10 day candlestick chart for ALLY 26.95 -0.17 (-0.63%)
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!