JPMorgan Chase Stock Forecast

JPMorgan Chase stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Apr 18, 2024)

JPM Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 0.650%. 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. The JPMorgan Chase stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $185.53 and $191.78. A break-up above any of these levels will issue buy signals. 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.

Support, Risk & Stop-loss for JPMorgan Chase stock

JPMorgan Chase finds support from accumulated volume at $180.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $3.36 between high and low, or 1.87%. For the last week, the stock has had daily average volatility of 2.40%.

JPMorgan Chase is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (JPM) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect JPMorgan Chase & Co to open at $181.54, and during the day (based on 14 day Average True Range), to move between $177.65 and $184.85, which gives a possible trading interval of +/-$3.60 (+/-1.98%) up or down from last closing price. If JPMorgan Chase & Co takes out the full calculated possible swing range there will be an estimated 3.97% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $180.80 (0.25%) than the resistance at $182.79 (0.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is JPMorgan Chase & Co stock A Buy?

The JPMorgan Chase stock holds several negative signals and despite the positive trend, we believe JPMorgan Chase will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.361 Sell Candidate Downgraded

Predicted Opening Price for JPMorgan Chase & Co of Friday, April 19, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.