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Watch for Jpmorgan Chase to Potentially Pullback After Gaining 3.27% Yesterday

By Amy Schwartz

Jpmorgan Chase (NYSE:JPM) traded in a range yesterday that spanned from a low of $115.86 to a high of $117.99. Yesterday, the shares gained 3.3%, which took the trading range above the 3-day high of $115.40 on volume of 5.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Jpmorgan Chase has traded in a range of $91.11 to $120.40 and is now at $117.94, 29% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.2%.

SmarTrend is tracking the current trend status for Jpmorgan Chase and will alert subscribers who have JPM in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders JPMorgan Chase

Ticker(s): JPM