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Next Resistance Level for JPMorgan Chase (JPM) is $47.39
[February 01, 2013]

Next Resistance Level for JPMorgan Chase (JPM) is $47.39

Feb 01, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of JPMorgan Chase (NYSE:JPM) have bullishly opened above the pivot of $47.05 today and have reached the first resistance level of $47.22. Investors may be interested in a cross of the next upside pivot targets of $47.39 and $47.73.

There is potential upside of 8.1% for shares of JPMorgan Chase based on a current price of $47.35 and an average consensus analyst price target of $51.17. The stock should find initial support at its 50-day moving average (MA) of $43.91 and further support at its 200-day MA of $39.64.

JPMorgan Chase share prices have moved between a 52-week high of $47.45 and a 52-week low of $30.83 and are now trading 54% above that low price at $47.35 per share. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.4%.

SmarTrend recommended that subscribers consider buying shares of JPMorgan Chase on December 11th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $42.76. Since that recommendation, shares of JPMorgan Chase have risen 10.0%. We continue to monitor JPM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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