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SmarTrend Watching for Potential Pullback in Shares of Jpmorgan Chase After 6.34% Gain

By Shiri Gupta

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.

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.

Jpmorgan Chase share prices have moved between a 52-week high of $140.76 and a 52-week low of $76.91 and are now trading 27% above that low price at $97.56 per share. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 2.4%.

Keywords: rebounders JPMorgan Chase

Ticker(s): JPM