There is an old adage that for the stock market to rise you have to see participation from the financial sector.
It makes sense if you consider that a strong market and a good economy would boost the overall perceived value of money and finance.
JPMorgan Chase & Co. (NYSE:JPM) is the King of Banks and financials with close to a $450-B market cap and what is still believed to have the safest credit profile customer base of all major banks.
After close to a 43% gain in Y 2019, it may seem off that some analysts have a consensus target price that is nearly 8% lower pre-dividend than the year-end price of 139.40
HeffX-LTN’s overall technical outlook for JPM is Bullish to Very Bullish across the board. The is strong support at 137.92 and the resistance is NIL.
Have a terrific New Year Holiday week