• Return to Headlines

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

By Nick Russo

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 $109.94 and $109.94 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.

Over the past year, Jpmorgan Chase has traded in a range of $91.11 to $119.24 and is now at $109.94, 21% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has remained constant.

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.

There is potential upside of 10.5% for shares of Jpmorgan Chase based on a current price of $109.94 and an average consensus analyst price target of $121.48. The stock should find initial support at its 50-day moving average (MA) of $109.85 and further support at its 200-day MA of $107.62.

SmarTrend is tracking the current trend status for Jpmorgan Chase and will alert subscribers who have JPM in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle JPMorgan Chase

Ticker(s): JPM