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Bearish Moving Average Cross by Jpmorgan Chase (JPM)

By David Diaz

Jpmorgan Chase (NYSE:JPM) crossed under its 10-day moving average of $116.54 on a volume of 3.5 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Jpmorgan Chase has traded in a range of $88.08 to $119.33 and is now at $115.51, 31% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.6%.

SmarTrend recommended that subscribers consider buying shares of Jpmorgan Chase on July 17th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $110.34. Since that recommendation, shares of Jpmorgan Chase have risen 5.9%. We continue to monitor JPM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses JPMorgan Chase

Ticker(s): JPM