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SmarTrend Watching for Potential Pullback in Shares of Jpmorgan Chase After 1.92% Gain

By Amy Schwartz

Jpmorgan Chase (NYSE:JPM) traded in a range yesterday that spanned from a low of $118.98 to a high of $120.17. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $118.43 on volume of 8.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Jpmorgan Chase share prices have moved between a 52-week high of $120.12 and a 52-week low of $91.11 and are now trading 32% above that low price at $120.12 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant.

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