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JPMorgan Daily Technical Analysis | 14 December 2017

2017-12-14 04:19 am | Resource: Technical Analysis Section | No Views : 298

At the end of last month, JPMorgan shares broke through 103.61 dollars and during the first week of trading, the American stock retested this level and continued to rise until yesterday's trading. During yesterday's trading, the stock broke the ascending trend line.

JPMorgan Daily Technical Analysis | 14 December 2017

Currently, our neutral view of the trading of the Bank of America as a result of the lack of confirmation of breaking the trend line, and the moving average and slow moving average overlapping with the movement of the stock, therefore, our view is also neutral.
From MACD we noted during the previous report, the weakness of the index and the intersection of the Sheikh indicators negative and the histogram columns decrease below zero.
It is expected that if the American bank breaks 103.61, the trend will be reversed and may target $ 97.66 on the other side, if a breach of 108.39 could target the 115.92 level.
Support: 103.61-97.66 - 93.44
Resistance: 109.84 - 111.67 - 115.92
Trend: neutral


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