JPMorgan Chase & Co. Stock Forecast

JPMorgan Chase & Co. stock downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)

CMC.F Signals & Forecast

The JPMorgan Chase & Co. 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 183.67€ and 183.62€. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -1.22%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Friday, June 14, 2024 in the short-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 & Co. stock

JPMorgan Chase & Co. finds support from accumulated volume at 183.12€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved 1.62€ between high and low, or 0.88%. For the last week the stock has had daily average volatility of 1.17%

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

Trading Expectations (CMC.F) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect JPMorgan Chase & Co. to open at 185.85€, and during the day (based on 14 day Average True Range), to move between 183.02€ and 188.30€, which gives a possible trading interval of +/-2.64€ (+/-1.42%) 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.

Since the stock is closer to the resistance from accumulated volume at 187.76€ (1.13%) than the support at 183.12€ (1.37%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is JPMorgan Chase & Co. stock A Buy?

JPMorgan Chase & Co. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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: -1.042 Sell Candidate Downgraded

Predicted Opening Price for JPMorgan Chase & Co. of Wednesday, June 26, 2024

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