2020: A Look at JPM, the ‘King of US Banks’

2020: A Look at JPM, the ‘King of US Banks’

$JPM

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

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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