JPMorgan Daily Technical Analysis | 26 December 2017
2017-12-26 10:28 am | Resource: Technical Analysis Section | No Views : 273
The US stock is currently undergoing a consolidation phase if it completes the breach of 108.39 and the general trend is currently bullish. The SMA and the SMA are positive cross but are currently overlapping with the movement of the stock and therefore our view is neutral.
Momentum is still bearish and the histogram is approaching zero to indicate the current consolidation situation in the stock.
It is expected that if the stock breached the level of 108.39 to target the level of 124.11 on the other side, if breaking the level of 103.74, the stock may move towards 96.54 levels.
Support: 102.34 - 95.04 - 88.13
Resistance: 109.84- 111.67- 115.92
Shares on Wall Street began the first trading session of the week low after an attack on two facilities of Saudi Aramco, cutting the oil giant's production in half. The United States accuses Iran of being behind the attack, while Tehran has denied the allegations. It is reported that the incident will delay the initial public offering of Aramco. At the same time, more than 49,000 GM workers began a…
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