JPMorgan speeds up: +3.6% with buyers in full control
JPMorgan Chase climbs 3.6% and presses against its Bollinger Band edge
JPMorgan speeds up: +3.6% with buyers in full control
Our view last week
JPMorgan Chase closes an indecisive week right up against its record highs, with only 3% of room left before the next resistance. The stock held a double bottom in the 307 area and bounced 4% off it, but underneath the surface daily money flow stays negative and buyers dominate the tape less than before. Earnings, out last week, are now behind it. The buy signal has been running for 14 weeks, with the trade up 10%.
This week's summary
JPMorgan closes the week with a 3.6% surge and volume almost entirely on the buy side (99%): money flow, lukewarm in recent weeks, swings back into firm accumulation and the weekly MACD keeps accelerating higher. The stock is now pressing against the upper edge of its daily Bollinger Band, in the 353 area, after forming a double bottom in the 317 area. JPMorgan stock has been under management for 15 weeks, with the trade up more than 13%.
IQS Phase
77
in tension
Signal Strength
27
low · fading
Sizing
MINIMUM
Ranking
#116 / 124
US stocks in progress
Trade P&L %
+13.99%
from signal to today
Rank position
ranks 116th among the 124 Longs already running for US stocks in our ranking, with a signal strength of 27 out of 100.
Sector context
SectorFinancials
Benchmark ETFXLF
Sector regimein positive regime
Performanceweekly +0.09% · monthly +4.82%
JPM belongs to the financials sector (reference ETF XLF). The sector is classified in positive regime according to our weekly reading.
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