JPMorgan Chase Stock Forecast

Stronger technical forecast for JPMorgan Chase stock price after Friday trading.
(Updated on May 10, 2024)

JPM Signals & Forecast

Mostly positive signals in the chart today. 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 $193.98 and $192.93. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 10.38%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Monday, May 06, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, October 11, 2023.

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 $195.65 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 $1.07 between high and low, or 0.540%. For the last week, the stock has had daily average volatility of 1.34%.

Our recommended stop-loss: $190.23 (-4.30%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from a pivot bottom found 17 days ago.)

Trading Expectations (JPM) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect JPMorgan Chase & Co to open at $198.79, and during the day (based on 14 day Average True Range), to move between $195.55 and $201.99, which gives a possible trading interval of +/-$3.22 (+/-1.62%) up or down from last closing price. If JPMorgan Chase & Co takes out the full calculated possible swing range there will be an estimated 3.24% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $199.06 (0.15%) than the support at $195.65 (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 positive signals and is within a weak 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: 6.211 Strong Buy Candidate Upgraded

Predicted Opening Price for JPMorgan Chase & Co of Monday, May 13, 2024

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