New bullish technical picture drawn on JP Morgan Chase daily chart and the major oscillators confirm the upward trend.
On the 02/03/2016 JP Morgan Chase close was at 59.76 (+0.95%). New bullish technical picture drawn on daily chart (high2 < high1, high1 < high, low2 < low1, low1 < low, close > close1, close1 > close2), we suggest to watch today closing. For intraday trading session the technical view is positive and leaves assume the up-trend continuation. The major oscillators confirm the upward trend.
View the interactive chart on ProRealTime.com
Simple Moving Average (SMA)
The price is above the 14 days moving average (SMA value is 57.43). The short term view is therefore bullish, however for today trading session we can’t exclude retracements towards the most significant support levels.
Daily chart shows volume is lower than the previous day. This could be a sign of a significant move to come.
Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 02/03/2016.
Performance: 7 trading days= +6.49% – 15 trading days= +7.64% – 30 trading days= +7.66%
Resistance levels: R1= 60.12 – R2= 60.48 – R3= 61.42
Pivot Point: 59.54
Support levels: S1= 59.18 – S2= 58.60 – S3= 57.66
DAILY TRADING SIGNALS
Buying opportunity above 59.90, targets minor resistance at 60.66 and perhaps as far as strong resistance at 61.17, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 62.50.
Selling opportunity below 59.49, targets minor support at 58.73 and perhaps as far as strong support at 58.21, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 56.89.