JP Morgan ChaseLong
JPM – Bank Stock on Fire! Breakout Setup in Play
🔥Technical Analysis (TA) for JPM – JPMorgan Chase
* Trend: JPM is forming a symmetrical triangle, consolidating after a strong uptrend. A breakout is imminent.
* Price Action: The stock recently hit $278.55 before pulling back, now testing the triangle support zone.
* Support & Resistance:
* Resistance: $278.55 (recent high), followed by $282 breakout target.
* Support: $271.04 (trendline support), with major support at $269.58.
* Indicators:
* MACD: Slight bearish crossover, indicating a possible retest before continuation.
* Stochastic RSI: Overbought but still strong, suggesting high momentum.
Trade Outlook
* Bullish Scenario: A breakout above $278.55 could trigger a move toward $282+.
* Bearish Scenario: A breakdown below $271 could see a test of $269.58 support.
💡 Final Thoughts: JPM is showing signs of institutional interest and could be gearing up for a strong move. Traders should watch for volume confirmation at the breakout level.
🚨 This analysis is for educational purposes only and does not constitute financial advice. 🚨
* Trend: JPM is forming a symmetrical triangle, consolidating after a strong uptrend. A breakout is imminent.
* Price Action: The stock recently hit $278.55 before pulling back, now testing the triangle support zone.
* Support & Resistance:
* Resistance: $278.55 (recent high), followed by $282 breakout target.
* Support: $271.04 (trendline support), with major support at $269.58.
* Indicators:
* MACD: Slight bearish crossover, indicating a possible retest before continuation.
* Stochastic RSI: Overbought but still strong, suggesting high momentum.
Trade Outlook
* Bullish Scenario: A breakout above $278.55 could trigger a move toward $282+.
* Bearish Scenario: A breakdown below $271 could see a test of $269.58 support.
💡 Final Thoughts: JPM is showing signs of institutional interest and could be gearing up for a strong move. Traders should watch for volume confirmation at the breakout level.
🚨 This analysis is for educational purposes only and does not constitute financial advice. 🚨
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.