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JPMorgan Chase & Co (JPM) “On a long-term technical basis, the stock (JPM) is trading below its 200-day moving average which generally implies it is in a negative trend.
The stock has support at 101.29 and 95.87. If the stock breaks down through support at 101.29 then it will probably continue lower to 95.87. The stock has resistance at 104.28 and at 115.77. If the stock breaks up through resistance at 104.28 then it will probably continue higher to 115.77. The 200-day moving average is at 104.28. This will also act as resistance. However, the stock has broken out of its long-term downtrend according to the fibonacci fan, which is significant. If the stock can form new support above 101.29 look for a rally to previous highs. The stock is extremely overbought according to the Stochastic Indicator (81.65).”
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