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SmarTrend Watching for Potential Pullback in Shares of Jpmorgan Chase After 1.21% Gain

By Amy Schwartz

Jpmorgan Chase (NYSE:JPM) traded in a range yesterday that spanned from a low of $105.44 to a high of $105.65. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $104.83 on volume of 4.4 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, Jpmorgan Chase share prices have been bracketed by a low of $91.11 and a high of $119.24 and are now at $105.65, 16% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Jpmorgan Chase on January 4th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $99.60. Since that recommendation, shares of Jpmorgan Chase have risen 4.8%. 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