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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 87.05 and 82.40. If the stock breaks down through support at 87.05 then it will probably continue lower to 82.40. The stock has resistance at 95.71 and at 104.39. If the stock breaks up through resistance at 95.71 then it will probably continue higher to 104.39. The 200-day moving average is at 115.36. 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 87.05 look for a rally to previous highs. The stock is extremely oversold according to the Stochastic Indicator (13.25).”
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