JPM Forecast and Technical Stock Analysis
Buy candidate since 2019-09-17 PDF
J P Morgan Chase & Co fell by -0.50% in the last day ( Tuesday, 17th Sep 2019 ) from $119.16 to $118.57 and has now fallen 3 days in a row. During the day the stock fluctuated 1.17% from a day low at $117.24 to a day high of $118.61. The price has risen in 8 of the last 10 days and is up by 9.22% over the past 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -0.73 million shares and in total 10.72 million shares bought and sold for approximately $1 270.88 million.
- 30 day high of the JPM stock price was $120.40 and low was $104.84.
- 90 day high was $120.40 and low was $104.34.
- 52 week high for J P Morgan Chase & Co - $120.40 and low - $91.11.
J P Morgan Chase & Co is at the upper part of a wide and horizontal trend and normally this would pose a good selling opportunity but a break-up through the top trend line at $120.25 will give a strong buy signal and a trend shift may be expected. Given the current horizontal trend, you can expect J P Morgan Chase & Co with a 90% probability to be traded between $105.57 and $120.88 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
J P Morgan Chase & Co holds buy signals from both short- and long-term moving averages. In addition, 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 $117.90 and $111.01. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Friday September 13, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSImin/max Values: [ 25 - 75 ]
The stock holds a RSI14 at 84 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $111.80 and $109.86.
There is 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, J P Morgan Chase & Co finds support just below today's level at $111.80. If this is broken, then the next support from accumulated volume will be at $109.86 and $109.44.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.37 between high and low, or 1.17%. For the last week, the stock has had a daily average volatility of 1.52%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $113.45 (-4.32%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 84 and this increases the risk substantially. There is a sell signal from pivot top found 2 day(s) ago.)
1.52 %Average volatility
Very Low Low Medium High Very High
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for this stock to perform well in the short-term period. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.
|JPM $118.57 ($-0.59 -0.50%)|
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