Shares of JP Morgan Chase (JPM) ended the trading day Wednesday at $91.93, representing a move of -0.94%, or $0.87 per share, on volume of 11.77 million shares.
After opening the trading day at $93.10, shares of JP Morgan Chase traded between a range of $91.68 and $93.19. JP Morgan Chase currently has a total float of 3.52 billion shares and on average sees 14.68 million shares exchange hands each day. The stock now has a 50-day SMA of $87.76 and 200-day SMA of $83.70, and it has a high of $94.51 and low of $63.38 over the last year. Its P/E ratio is 13.7 and its P/B ratio is 1.41.
Overall, the bias in prices is: Upwards.
Short term: Prices are stalling.
Intermediate term: Prices are trending.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 94.85.
The projected lower bound is: 89.19.
The projected closing price is: 92.02.
A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.
An engulfing bearish line occurred (where a black candle’s real body completely contains the previous white candle’s real body). The engulfing bearish pattern is bearish during an uptrend (which appears to be the case with JPMORGAN CHASE). It then signifies that the momentum may be shifting from the bulls to the bears.
If the engulfing bearish pattern occurs during a downtrend, it may be a last engulfing bottom which indicates a bullish reversal. The test to see if this is the case is if the next candle closes above the bottom the current (black) candle’s real body.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 62.7877. This is not an overbought or oversold reading. The last signal was a sell 12 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 57.47. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 11 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 13. This is not a topping or bottoming area. The last signal was a buy 2 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 8 period(s) ago.
Rex Takasugi – TD Profile
JPMORGAN CHASE closed down -0.870 at 91.930. Volume was 22% below average (neutral) and Bollinger Bands were 36% narrower than normal.
Open High Low Close Volume
93.170 93.180 91.680 91.930 3,252,554
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 91.71 88.17 84.71
Volatility: 15 21 22
Volume: 3,840,302 4,177,876 4,460,229
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
JPMORGAN CHASE is currently 8.5% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of JPM.N at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on JPM.N and have had this outlook for the last 29 periods.
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