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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 96.80 and 91.38. If the stock breaks down through support at 96.80 then it will probably continue lower to 91.38. The stock has resistance at 98.75 and at 105.21. If the stock breaks up through resistance at 98.75 then it will probably continue higher to 105.21. The 200-day moving average is at 106.17. 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 96.80 look for a rally to previous highs. The stock is slightly oversold according to the Stochastic Indicator (34.09).”
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