April 14, 2012

JP Morgan Chase and co Weekend update

  • JPM Daily chart shows a bearish engulfing pattern But price is still above the crucial up trend line. 20 Day SMA is acting as resistance. Breaking the up trend line and trading below42.66 levels will favor bears of JPM.
  • Weekly chart too shows a possible MACD sell signal in the making. Price not breaking above 46.49 and breaking the up trend line should favor bears of JPM.

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