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Possible Bearish Inside Day Candle Pattern Detected for Jpmorgan Chase (NYSE:JPM)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Jpmorgan Chase (NYSE:JPM) based on the price action in the company's shares. Today's price range of $111.86 and $112.36 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Jpmorgan Chase may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

JPMorgan Chase & Co. provides global financial services and retail banking. The Company provides services such as investment banking, treasury and securities services, asset management, private banking, card member services, commercial banking, and home finance. JP Morgan Chase serves business enterprises, institutions, and individuals.

Jpmorgan Chase (NYSE:JPM) has potential upside of 8.5% based on a current price of $111.94 and analysts' consensus price target of $121.48. Jpmorgan Chase shares have support at the 200-day moving average (MA) of $111.78 and additional support at the 50-day MA of $111.74.

Over the past year, Jpmorgan Chase has traded in a range of $95.95 to $119.33 and is now at $111.94, 17% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.4%.

SmarTrend is monitoring the recent change of momentum in Jpmorgan Chase. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Jpmorgan Chase in search of a potential trend change.

Keywords: bearish inside day candle JPMorgan Chase

Ticker(s): JPM