Recent 52-Week High Exceeded in Shares of JPMorgan Chase (JPM)
JPMorgan Chase (NYSE:JPM) traded today at a new 52-week high of $49.07. This new high was reached on below average trading volume as 7 million shares traded hands, while the average 30-day volume is approximately 23.9 million shares.
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.
Potential upside of 5.4% exists for JPMorgan Chase, based on a current level of $49.07 and analysts' average consensus price target of $51.74. The stock should discover initial support at its 50-day moving average (MA) of $44.97 and subsequent support at its 200-day MA of $39.82.
JPMorgan Chase share prices have moved between a 52-week high of $49.07 and a 52-week low of $30.83 and are now trading 59% above that low price at $49.07 per share. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.0%.
SmarTrend recommended that subscribers consider buying shares of JPMorgan Chase on December 11th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $42.76. Since that recommendation, shares of JPMorgan Chase have risen 13.8%. We continue to monitor JPM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows JPMorgan Chase