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JP Morgan Chase & Co (JPM) “On a long-term technical basis, the stock (JPM) is trading above its 200-day moving average which implies it is in a positive trend.
The stock has support at 120.40 and 113.76. If the stock breaks down through support at 120.40 then it will probably continue lower to 113.76. The stock will meet resistance at 127.44 and 135.45. If the stock breaks up through resistance at 127.44 then it will probably continue higher to 135.45. The 200-day moving average is at 110.56. This will also act as support. The stock is extremely overbought according to the Stochastic Indicator (91.79), so look for a possible pullback soon. Confirm this with the Short-Term and Daily Opinion to keep from exiting prematurely.”
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