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JPMorgan Daily Technical Analysis | 26 December 2017

2017-12-26 10:28 am | Resource: Technical Analysis Section | No Views : 273

JP Morgan shares failed to break above the December top of the month, as the previous peak failed last Friday as bulls lost their momentum.

JPMorgan Daily Technical Analysis | 26 December 2017

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
Trend: neutral

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