September 3, 2012

JPMorgan Chase chart analysis

  • JPM Weekly chart shows resistance at 100 Week SMA.
  • Price is doing a bearish flag like consolidation pattern in weekly time frame.
  • Last chart shows price closing above 20 Week SMA. Falling below this line should give a correction towards the flag's support line. Price sustaining below 20 Week SMA May also give a flag breakdown  for bears of JPM.

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