Jpmorgan Chase (NYSE:JPM) has opened bullishly above the pivot of $112.23 today and has reached the first level of resistance at $113.45. Should the shares continue to rise, the resistance pivots of $114.53 and $116.83 will be of interest.

In the past 52 weeks, Jpmorgan Chase share prices have been bracketed by a current low of $112.05 and a high of $172.96 and are now at $114.47. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.4%.

Jpmorgan Chase has overhead space with shares priced $114.47, or 5.8% below the average consensus analyst 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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