This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

JPMorgan Charts: Reasons to Be Bullish

By L.A. Little of tatoday.com, author of Trade Like the Little Guy.

JPMorgan Chase (JPM - Get Report) is one of those perennial financial stars -- the monolithic bank that seems to be everywhere and nowhere at the same time.

It's everywhere in that it is involved in so many deals and in countless markets. The bank is nowhere in that it's just behind the scenes, seldom in the limelight like Goldman Sachs (GS - Get Report) or Citigroup (C - Get Report). JPMorgan remains just outside the glare of the spotlight, yet is always in line when it comes time to rake in the dough.

Most Popular Today
Five Dumbest Things on Wall Street
Most Commented Today
Sirius Chairman Resigns

Since last year's financial melt, the bank has expanded its operations further, has digested more competitors, and has been applauded for doing so. JPMorgan's share price has ascended as well, almost back to all-time highs. Goldman needs to take some lessons from it on public relations.

Of course, this column is about the charts and where the next trade lies. With JPMorgan, that trade is a starter buy in the $39 area and further purchases back in the $32.50 to $35 area. You have to purchase enough around $39 just in case the lower prices simply never materialize. Unless volume expands seriously, the lower price range would be a great place to stock up, and here's why.

On a long-term time frame, the stock exhibits distinct levels of support and resistance.

Looking at the monthly chart and gauging volume characteristics, it is hard to see JPMorgan trading and staying under $30 in the long term.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
XLG $145.44 -0.57%
BAC $16.50 -1.02%
C $54.08 -0.86%
GS $206.19 -1.10%
JPM $65.78 -0.63%

Markets

DOW 18,010.68 -115.44 -0.64%
S&P 500 2,107.39 -13.40 -0.63%
NASDAQ 5,070.0260 -27.95 -0.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs