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JP Morgan Daily Technical Analysis | 13 November 2017

2017-11-13 11:25 am | Resource: Technical Analysis Section | No Views : 304

We noted in a previous report that JPMorgan broke the stock of the minor bullish trend line, but without confirming the break, during last week's trading the American stock broke the level of $ 100.19, which confirmed the break and turned the trend down.

 JP Morgan Daily Technical Analysis | 13 November 2017

The moving average and the slow moving average are both negative crosses, which supports the US Bank's stockholders.
MACD is cross and the histogram indicators are starting to increase, which indicates the beginning of weakness on sellers and increases the probability of stability of the stock above the first support level 97.66.
It is expected that if the US bank broke 96.81, it might target 93.44 on the other side, if a breach of 98.37 might target the 100.85 level.
Support: 97.66- 93.44 - 88.85
Resistance: 100.85 - 103.91 - 105
Trend: Down


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