JPMorgan's rally loses pace
JPMorgan stock slips 0.4% after last week's 3.6% surge, the rally catches its breath
JPMorgan's rally loses pace
Our view last week
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%.
This week's summary
After last week's 3.6% surge, JPMorgan stock closes this week with a mild -0.4%: volume settles back near parity (52% buying) from 99% seven days ago, a sign the rally is losing pace. Price still holds near its highs, helped by a 2% bounce off the daily 20-day moving average. In this JPMorgan stock technical analysis, the trade has been under management for 16 weeks, up more than 13%.
IQS Phase
60
ordinary
Signal Strength
27
low · fading
Sizing
MINIMUM
Ranking
#112 / 120
US stocks in progress
Trade P&L %
+13.53%
from signal to date, no stop loss
Rank position
ranks 112th among the 120 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 strong phase
Performanceweekly +1.12% · monthly +3.94%
JPM belongs to the financials sector (reference ETF XLF). The sector is classified in strong phase according to our weekly reading.
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