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Jpmorgan Chase Set to Possibly Rebound After Yesterday's Selloff of 2.59%

By Amy Schwartz

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.

Over the past year, Jpmorgan Chase has traded in a range of $57.05 to $95.22 and is now at $89.27, 56% above that low. 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