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Watch for Shares of Jpmorgan Chase (JPM) to Approach Resistance at $85.83

Mar 24, 2020 (SmarTrend(R) News Watch via COMTEX) --
Shares of Jpmorgan Chase (NYSE:JPM) opened today above their pivot of $80.17 and have already reached the first level of resistance at $82.24. Should the shares continue to rise, the resistance pivots of $85.83 and $91.49 will be of interest.

Potential upside of 43.8% exists for Jpmorgan Chase, based on a current level of $84.49 and analysts' average consensus price target of $121.48. Jpmorgan Chase shares should first meet resistance at the 200-day moving average (MA) of $120.87 and find additional resistance at the 50-day MA of $122.95.

In the past 52 weeks, Jpmorgan Chase share prices have been bracketed by a low of $76.91 and a high of $140.76 and are now at $84.49, 10% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 2.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of Jpmorgan Chase on February 25th, 2020 by issuing a Downtrend alert when the shares were trading at $128.91. Since that call, shares of Jpmorgan Chase have fallen 38.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to SmarTrend at cs@mysmartrend.com

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