JPMorgan Chase Stock Forecast
JPMorgan Chase stock upgraded to Hold/Accumulate.
(Updated on Apr 22, 2024)
The JPMorgan Chase stock price gained 1.94% on the last trading day (Monday, 22nd Apr 2024), rising from $185.80 to $189.41. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.22% from a day low at $185.99 to a day high of $190.13. The price has fallen in 6 of the last 10 days and is down by -4.57% for this period. Volume fell on the last day by -1 million shares and in total, 8 million shares were bought and sold for approximately $1.58 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 12.84% during the next 3 months and, with a 90% probability hold a price between $204.48 and $232.85 at the end of this 3-month period.
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JPM Signals & Forecast
There are mixed signals in the stock today. 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 $191.89. On a fall, the stock will find some support from the short-term average at $183.29. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 5.18%. Further rise is indicated until a new top pivot has been found. 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 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.
Golden Star 12 Months
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 $182.89 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 $4.13 between high and low, or 2.22%. For the last week, the stock has had daily average volatility of 2.06%.
Our recommended stop-loss: $181.80 (-4.02%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (JPM) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect JPMorgan Chase & Co to open at $188.51, and during the day (based on 14 day Average True Range), to move between $185.69 and $193.13, which gives a possible trading interval of +/-$3.72 (+/-1.96%) up or down from last closing price. If JPMorgan Chase & Co takes out the full calculated possible swing range there will be an estimated 3.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $190.30 (0.47%) than the support at $182.89 (3.44%), 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, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.119 Hold/Accumulate Upgraded
Predicted Opening Price for JPMorgan Chase & Co of Tuesday, April 23, 2024
Fair opening price April 23, 2024 | Current price |
---|---|
$188.51 ( 0.476%) | $189.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JPM
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 192.64 | 1.71 % | |
R2 | 191.06 | 0.87 % | ||
R1 | 190.09 | 0.358 % | ||
Current price: | 189.41 | |||
Support | S1 | 186.93 | -1.31 % | |
S2 | 185.95 | -1.83 % | ||
S3 | 184.37 | -2.66 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 199.06 | 5.09 % | |
R2 | 195.43 | 3.18 % | ||
R1 | 190.30 | 0.470 % | ||
Current price | 189.41 | |||
Support | S1 | 182.89 | -3.44% | |
S2 | 182.79 | -3.50% | ||
S3 | 180.80 | -4.55% |
JPM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 19, 2024 | Apr 04, 2024 | Apr 30, 2024 | $1.15 | 0.607% |
2 | Dec 12, 2023 | Jan 04, 2024 | Jan 31, 2024 | $1.05 | 0.602% |
3 | Sep 19, 2023 | Oct 05, 2023 | Oct 31, 2023 | $1.05 | 0.755% |
4 | May 15, 2023 | Jul 05, 2023 | Jul 31, 2023 | $1.00 | 0.633% |
5 | Mar 21, 2023 | Apr 05, 2023 | Apr 30, 2023 | $1.00 | 0.723% |
FAQ
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