JPMorgan Chase Stock Forecast
JPMorgan Chase stock price up 1.21% on Friday
(Updated on Mar 31, 2023)
The JPMorgan Chase stock price gained 1.21% on the last trading day (Friday, 31st Mar 2023), rising from $128.75 to $130.31. During the last trading day the stock fluctuated 1.16% from a day low at $128.85 to a day high of $130.34. The price has risen in 6 of the last 10 days and is up by 3.58% 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, 980 thousand more shares were traded than the day before. In total, 13 million shares were bought and sold for approximately $1.71 billion.
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The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.89% during the next 3 months and, with a 90% probability hold a price between $115.52 and $129.04 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
JPM Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, March 24, 2023, and so far it has risen 4.32%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $135.50. On a fall, the stock will find some support from the short-term average at $128.19. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for JPMorgan Chase stock
JPMorgan Chase finds support from accumulated volume at $128.26 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 $1.49 between high and low, or 1.16%. For the last week, the stock has had daily average volatility of 1.74%.
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 Monday 3rd
For the upcoming trading day on Monday, 3rd we expect JPMorgan Chase & Co to open at $129.83, and during the day (based on 14 day Average True Range), to move between $126.82 and $133.80, which gives a possible trading interval of +/-$3.49 (+/-2.68%) up or down from last closing price. If JPMorgan Chase & Co takes out the full calculated possible swing range there will be an estimated 5.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $131.25 (0.72%) than the support at $128.26 (1.57%), 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 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.
Current score: -1.812 Open Broker Account
Sell Candidate UnchangedPredicted Opening Price for JPMorgan Chase & Co of Monday, April 3, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price April 3, 2023 | Current price |
|---|---|
| $129.83 | $130.31 (Overvalued) |
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Trading levels for JPM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 131.32 | 0.777 % | |
| R2 | 130.75 | 0.341 % | ||
| R1 | 130.40 | 0.0709 % | ||
| Current price: | 130.31 | |||
| Support | S1 | 129.27 | -0.80 % | |
| S2 | 128.91 | -1.07 % | ||
| S3 | 128.35 | -1.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 134.62 | 3.31 % | |
| R2 | 133.65 | 2.56 % | ||
| R1 | 131.25 | 0.721 % | ||
| Current price | 130.31 | |||
| Support | S1 | 128.26 | -1.57% | |
| S2 | 127.14 | -2.43% | ||
| S3 | 125.81 | -3.45% |
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About JPMorgan Chase & Co
JPMorgan Chase & Co. operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and... JPM Profile
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