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Jpmorgan Chase Rises 6.34% on Heavy Volume: Watch For Potential Pullback

By Amy Schwartz

Jpmorgan Chase (NYSE:JPM) traded in a range yesterday that spanned from a low of $93.54 to a high of $97.33. Yesterday, the shares gained 6.3%, which took the trading range above the 3-day high of $90.10 on volume of 13.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Jpmorgan Chase have traded between a low of $76.91 and a high of $140.76 and are now at $97.56, which is 27% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.4% while the 200-day MA has slid 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Jpmorgan Chase on February 25th, 2020 by issuing a Downtrend alert when the shares were trading at $128.91. Since that call, shares of Jpmorgan Chase have fallen 28.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders JPMorgan Chase

Ticker(s): JPM