JP MORGAN to rise at least +14% on this rally.We haven't looked into JP Morgan Chase (JPM) in almost 6 months (March 25, see chart below) and the excellent sell signal it gave us:
That was right at the top of its 2-year Channel Up. Right now we have the price rebounding an pricing a Higher Low on a shorter-term Channel Up since the March 25 High. Being still below its 1D MA50 (blue trend-line), gives time for an early buy.
The minimum % of a Bullish Leg within this Channel Up has been +14.07% so our Target is at $229.00 accordingly.
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Jpmorgansignals
JP MORGAN -15% correction very likely.JP Morgan Chase (JPM) has been trading within a Channel Up since the October 12 2022 market bottom. Friday's high is technically at the top (Higher Highs trend-line) of that Channel Up. The 1D RSI sequence is similar to the one that led March 06 2023 High and subsequent correction.
As you can see, every Higher High rejection (two so far on that pattern) has corrected by around -15%. As a result, we expect a minimum pull-back, below the 1D MA50 (blue trend-line) and towards the 1D MA200 (orange trend-line) of -14.77%, giving us a target of 173.00. That would be exactly on the 0.382 Fibonacci retracement level of the last Higher Low of the Channel Up, similar to March 23 2023.
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JP MORGAN Approaching the ideal sell level.JP Morgan Chase (JPM) has been trading within a Channel Up pattern since the October 12 2022 market bottom. Currently it is on a relentless rally since the October 27 2023 Higher Low, which is technically the Bullish Leg towards the Channel's top and new Higher High.
The peak points of the previous two main Bullish Legs of the Channel Up, took place when the 1D RSI formed Lower Highs against the price's Higher Highs, which is a technical Bearish Divergence. Since the price is currently so close to the top of the Channel Up, we will wait for the RSI to form that Lower High sequence and enter a confirmed sell. Our target will be 163.00, which is a projected contact with the 1D MA50 (blue trend-line) and the 0.382 Fibonacci Channel level, which has always been reached during Bearish Legs.
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JPM continuously negative for 6 weeksJPM continuously negative for 6 weeks
This chart shows the weekly candle chart of JP Morgan's stocks over the past two years. The top to bottom golden section at the end of 2021 is superimposed in the figure. As shown in the figure, JP Morgan's stock hit its high point at the end of July and early August of this year, hitting the top to bottom golden ratio of 0.618 in the chart. Then, it has been continuously negative for 6 weeks, and its low point in the past two weeks has hit the top to bottom golden ratio of 1.382 in the chart! So in the future, just use the lowest point of the previous week as the watershed to determine the strength of JP Morgan's stock!
An opportunity to buy JPMorgan stockHi, according to my analysis of .jp morgan stock. There is a fantastic long term investment opportunity. Especially with the price breaking the resistance area at the level of 144. Likewise, the stock exited the sideways channel. We also notice a rising channel as shown in the analysis. good luck for everbody .Note: If you like this analysis, please give your opinion on it. in the comments. I will be happy to share ideas. Like and click to get free content. Thank you
JPMorganstock is breaking through the upper limit!JP Morgan stock is breaking through the upper limit!
This chart shows the weekly level candle chart of JP Morgan stock in the past two years. The graph overlays the top to bottom golden section at the end of 2021. As shown in the figure, the low point of JP Morgan stock at the end of 2022 happens to be around 3.414 points in the golden section, and the high point in November happens to be 1.618 points in the golden section. The high points in January, March, and May this year are exactly 1.382 points in the golden section! Now that JP Morgan stock has broken the upper limit, it is about to test the first wave of low points at the end of 2021 from the top to the bottom!
JP MORGAN Ahead of a Golden Cross. Strong bullish signal!JP Morgan Chase & Co. (JPM) has basically turned sideways since November 11 (despite the marginal November 25 Higher High) putting a pause to the enormous 1-month rally since the October 12 bottom.
The big news on this chart is that the 1D MA50 (blue trend-line) is about to cross above the 1D MA200 (orange trend-line) to form the infamous pattern of the Golden Cross on the 1D time-frame. This is technically very bullish and in fact the last time we saw this formation was on November 13 2020, almost 2 years ago!
As with today, the price was again just below the 0.5 Fibonacci retracement level, just a few days before the Golden Cross formation and after it was completed, started one of the strongest rallies in recent times, making a new All Time High on January 12 2021, essentially just 2 months after.
Now obviously that was the era of 'cheap money', when the Fed printed trillions of USD in a very short period of time to support the economy during the COVID lockdowns. We can't expect the stock to rally as fast and as aggressively but still, as long as the Golden Cross is formed and the 1D MA50 supports, we can target one Fibonacci level at a time.
Notice how similar the 2020 COVID recovery is with the 2022 (today) one. The 1W MA200 is in a symmetrical place, the 1D RSI was pulling back on the same fractal and the 1W MACD rebounded on the same level.
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