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Friday, March 14, 2008

JPMorgan Chase & Co. Technical Analysis

Today we'll analyze the Stock JPM for online market trading,
Technical indicators to notice:
1- Last bullish trend was from 39.59$ (01/18/08) to 48.25$ (02/01/08) a 8.66$ move
2- The current bearish trend started from 48.25$ at 02/01/08 and is currently trading at 38.11$.

3- The stock current support level is at 37.23 which is the 127.20% fibonacci retracement of the last 8.66$ move.
4- The stock current resistance level is at 39.59 which is the 100.00% fibonacci retracement of the last 8.66$ move.
5- According to ADX, the trend is currently bearish, which is getting stronger.

Conclusion:
JPM is currently trading a bearish wave, which is becoming stronger .
Technical indicators and chart patterns show no favorited direction,
recommend hold or waiting for entry .

Resistance Levels: 46.23, 39.59, 40.50, 41.98, 42.90, 43.18, 43.92, 44.38, 44.94, 46.21, 48.25, 48.25.
Support Levels: 37.23, 34.24,.


That's all for today ... thanks for reading the post,
come back soon for more updates,
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have a nice day,

Shadi
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Google
 

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Stock Search
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Shadi