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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 123.86 and 117.24. If the stock breaks down through support at 123.86 then it will probably continue lower to 117.24. The stock will meet resistance at 131.31 and 152.38. If the stock breaks up through resistance at 131.31 then it will probably continue higher to 152.38. The 200-day moving average is at 111.48. This will also act as support. The stock is extremely overbought according to the Stochastic Indicator (91.72), 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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