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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 --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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