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Jpmorgan Chase (JPM) Crosses Pivot Point Support at $90.98

By James Quinn

Jpmorgan Chase (NYSE:JPM) has opened bearishly below the pivot of $91.67 today and has reached the first level of support at $90.98. Investors may be interested in a cross of the next downside pivot targets of $90.26 and $88.85.

Jpmorgan Chase has overhead space with shares priced $90.53, or 4.8% below the average consensus analyst price target of $95.12. The stock should discover initial support at its 200-day moving average (MA) of $62.55 and subsequent support at its 50-day MA of $60.39.

Over the past year, Jpmorgan Chase has traded in a range of $57.05 to $95.22 and is now at $90.53, 59% above that low. 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 5.4%. We continue to monitor JPM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts JPMorgan Chase

Ticker(s): JPM