JP Morgan & Chase Co. Elliott Wave technical analysis [Video]
|JPM Elliott Wave Analysis Trading Lounge
JP Morgan & Chase Co., (JPM) Daily Chart
JPM Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Minor wave 5.
Direction: Upside in 5 of (5).
Details: Looking at further upside within Minor wave 5 as we are trading above TradingLevel2 at 200$ and the next TL stands at 300$.
JPM Elliott Wave technical analysis – Daily chart
On the daily chart, JPM is progressing within Minor wave 5 of the larger wave (5). The stock is trading above TradingLevel2 at $200, indicating a bullish trend. The next key resistance level stands at $300, which could act as a significant psychological and technical barrier.
JPM Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave {iv} of 5.
Direction: Bottom in wave {iv}.
Details: Looking for another leg lower within wave (c) of {iv} as we are missing downside after a sharp move down(potential wave (a)) and a corresponding pullback higher in what could be wave (b). Looking for MinorGroup1 to hold as support.
JPM Elliott Wave technical analysis – One-hour chart
On the 1-hour chart, JPM is in the midst of completing wave {iv} within Minor wave 5. A sharp move down, potentially wave (a) of {iv}, has occurred, followed by a corrective bounce in wave (b). The next move is expected to be a final leg lower, wave (c), to complete wave {iv}. The area around MinorGroup1 should act as support, potentially marking the bottom of wave {iv} before resuming the upward trend in wave {v}.
This Elliott Wave analysis for JP Morgan & Chase Co., (JPM) examines both the daily and 1-hour charts to assess its current market trend, utilizing Elliott Wave Theory to anticipate potential future movements.
JP Morgan & Chase Co. Elliott Wave technical analysis [Video]
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.