JPMorgan Chase Crosses Below its 10-day MA (JPM)
JPMorgan Chase (NYSE:JPM) crossed under its 10-day moving average of $67.56 on a volume of 4.6 million shares. Swing traders may find 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 $50.07 to $70.61 and is now at $67.15, 34% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.7%.
SmarTrend recommended that subscribers consider buying shares of JPMorgan Chase on July 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $64.51. Since that recommendation, shares of JPMorgan Chase have risen 5.6%. 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