Here’s your trade on JPM – October 24, 2024
This is Scott at Scott Trades on Twitter with StockMarketMentor.com and your Chart of the Day. I want to take a look at JPMorgan Chase ( NYSE: JPM ).
JPM ( NYSE: JPM ) is in a well-defined uptrend and above all the major moving averages. You can see that over the past few quarters, it has posted some pretty positive earnings. Every earnings, the last three, have been positive. And though some of the earnings reactions have been negative, it’s always resolved back to the upside and continually prints higher lows.
We are just off the highs here following its recent earnings report, which was positive and pushed the stock up to around 225.00. It has since been consolidating along this 8-day exponential period moving average, that’s the orange line on the chart. I think JPM ( NYSE: JPM ) could be actionable with a move above 225.00, coming on volume.
I would definitely set an alert right there, that’s pretty logical to me. We see pretty clear resistance back here in August at around 225.00, and we’re just underneath that now. So I would look for that move through 225.00 on JPM ( NYSE: JPM ), coming on volume.
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