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After Yesterday's Decline of 2.59%, Jpmorgan Chase Offers Investors Better Value

By David Diaz

Jpmorgan Chase (NYSE:JPM) traded in a range yesterday that spanned from a low of $89.23 to a high of $91.11. Yesterday, the shares fell 2.6%, which took the trading range below the 3-day low of $90.80 on volume of 7.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Jpmorgan Chase have traded between a low of $57.05 and a high of $95.22 and are now at $89.27, which is 56% above that low price. The 200-day and 50-day moving averages have moved 0.22% lower and 0.68% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Jpmorgan Chase on June 12th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $87.01. Since that recommendation, shares of Jpmorgan Chase have risen 5.4%. We continue to monitor JPM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders JPMorgan Chase

Ticker(s): JPM