It's been a solid year for shareholders in JPMorgan Chase (JPM - Get Report). The $158 billion big bank has seen its shares rally more than 25% so far in 2012, despite a series of conspicuous missteps that made JPM a media punching bag earlier in the year. Now, the firm looks well-positioned to keep up its momentum.
The most important thing about the climb in JPM is that it's been orderly. Since the June correction in the S&P, JPM has managed to climb higher within an uptrending channel, a price area that's helped traders to identify the high probability moves in shares. The fact that JPM has successfully tested support four times without failing is a good sign -- it indicates that shares can still catch a bid underneath that trend line.