JPMorgan Chase Stock Forecast
JPMorgan Chase stock upgraded from Buy Candidate to Strong Buy Candidate after Wednesday trading session.
(Updated on Mar 27, 2024)
The JPMorgan Chase stock price gained 1.94% on the last trading day (Wednesday, 27th Mar 2024), rising from $195.73 to $199.52. During the last trading day the stock fluctuated 1.64% from a day low at $196.38 to a day high of $199.60. The price has risen in 7 of the last 10 days and is up by 4.25% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately $1.67 billion.
The stock lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $201.02 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 17.46% during the next 3 months and, with a 90% probability hold a price between $224.46 and $236.12 at the end of this 3-month period.
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JPM Signals & Forecast
The JPMorgan Chase stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $196.55 and $186.22. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 25, 2024, and so far it has risen 2.41%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Wednesday, October 11, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Wednesday, October 11, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for JPMorgan Chase stock
On the downside, the stock finds support just below today's level from accumulated volume at $170.30 and $169.05. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, JPMorgan Chase finds support just below today's level at $170.30. If this is broken, then the next support from accumulated volume will be at $169.05 and $167.99.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $3.22 (1.64%) between high and low. For the last week, the stock has had daily average volatility of 1.58%.
Our recommended stop-loss: $190.16 (-4.69%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (JPM) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect JPMorgan Chase & Co to open at $198.50, and during the day (based on 14 day Average True Range), to move between $196.67 and $202.37, which gives a possible trading interval of +/-$2.85 (+/-1.43%) up or down from last closing price. If JPMorgan Chase & Co takes out the full calculated possible swing range there will be an estimated 2.85% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $170.30, some $29.22 (14.65%) from the current price of $199.52, our system finds the risk reward attractive.
Is JPMorgan Chase & Co stock A Buy?
JPMorgan Chase holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.387 Strong Buy Candidate Upgraded
Predicted Opening Price for JPMorgan Chase & Co of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$198.50 ( 0.511%) | $199.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JPM
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 201.72 | 1.10 % | |
R2 | 200.49 | 0.486 % | ||
R1 | 199.73 | 0.105 % | ||
Current price: | 199.52 | |||
Support | S1 | 197.27 | -1.13 % | |
S2 | 196.51 | -1.51 % | ||
S3 | 195.28 | -2.13 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 199.52 | |||
Support | S1 | 170.30 | -14.65% | |
S2 | 169.05 | -15.27% | ||
S3 | 167.99 | -15.80% |
JPM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 19, 2024 | Apr 04, 2024 | Apr 30, 2024 | $1.15 | 0.576% |
2 | Dec 12, 2023 | Jan 04, 2024 | Jan 31, 2024 | $1.05 | 0.602% |
3 | Sep 19, 2023 | Oct 05, 2023 | Oct 31, 2023 | $1.05 | 0.755% |
4 | May 15, 2023 | Jul 05, 2023 | Jul 31, 2023 | $1.00 | 0.633% |
5 | Mar 21, 2023 | Apr 05, 2023 | Apr 30, 2023 | $1.00 | 0.723% |
FAQ
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