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Jpmorgan Chase Falls 2.06% on Heavy Volume: Watch For Potential Rebound

By Amy Schwartz

Jpmorgan Chase (NYSE:JPM) traded in a range yesterday that spanned from a low of $91.45 to a high of $92.67. Yesterday, the shares fell 2.1%, which took the trading range below the 3-day low of $92.07 on volume of 4.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Jpmorgan Chase share prices have moved between a 52-week high of $95.22 and a 52-week low of $57.05 and are now trading 61% above that low price at $91.62 per share. 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 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 7.5%. 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