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Jpmorgan Chase (JPM) Breaks Through Support at $113.15

Aug 02, 2022 (SmarTrend(R) News Watch via COMTEX) --
Jpmorgan Chase (NYSE:JPM) has opened bearishly below the pivot of $114.13 today and has reached the first level of support at $113.15. Analysts will be watching for a cross of the next downside pivot targets of $112.09 and $110.06.

Jpmorgan Chase share prices have moved between a 52-week high of $172.96 and a 52-week low of $125.54 and are now trading 4% above that low price at $130.37 per share. The 200-day and 50-day moving averages have moved 0.03% higher and 0.37% lower over the past week, respectively.

Jpmorgan Chase (NYSE:JPM) defies analysts with a current price ($130.37) 6.8% above its average consensus price target of $121.48. The stock should run into initial resistance at its 200-day moving average (MA) of $159.09 and subsequent resistance at its 50-day MA of $163.23.

SmarTrend recommended that its subscribers protect gains by selling shares of Jpmorgan Chase on April 4th, 2022 by issuing a Downtrend alert when the shares were trading at $134.92. Since that call, shares of Jpmorgan Chase have fallen 3.4%. 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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comtex tracking

COMTEX_411430998/2476/2022-08-02T12:32:49

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