The Daily View for JP Morgan
- At the moment, JPM’s price is down $-0.32 (-0.21%) from the day prior.
- This is a reversal of the price action on the previous day, in which price moved up.
- If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
- Of note is that the 100 day changed directions on JPM; it is now pointing up. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
JP Morgan’s hourly price chart is shown below.
The Daily View for JP Morgan
- At the moment, JPM’s price is down $-0.38 (-0.25%) from the day prior.
- The daily chart shows that JP Morgan has seen 3 straight down days.
- If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
- Regarding moving averages, it should first be noted that price has crossed the 20 day moving average, resulting in them so that price is now turning below it. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
Below is a daily price chart of JP Morgan.
Featured JP Morgan Idea From TradingView
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— ValueInvest_Pro
The post JP Morgan May Be Offering a Trading Opportunity With Its Cross Above Its 20 Moving Average appeared first on CFDTrading.
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