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Jpmorgan Chase Set to Possibly Rebound After Yesterday's Selloff of 3.01%

By David Diaz

Jpmorgan Chase (NYSE:JPM) traded in a range yesterday that spanned from a low of $103.14 to a high of $105.01. Yesterday, the shares fell 3.0%, which took the trading range below the 3-day low of $106.73 on volume of 7.9 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, Jpmorgan Chase share prices have been bracketed by a low of $102.20 and a high of $119.33 and are now at $104.00, 2% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.4%.

SmarTrend is monitoring the recent change of momentum in Jpmorgan Chase. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Jpmorgan Chase in search of a potential trend change.

Keywords: rebounders JPMorgan Chase

Ticker(s): JPM