JP Morgan Chase & Co (JPM.NYSE)

11 September 2017




Technical Summary: The 5-year chart of the JPM stock price has reflected the gradually improving fundamental picture for the company after the turmoil of the financial crisis. This trend accelerated from November last year when the stock broke out of its trading range on signficant volume after the election of Donald Trump as US President. This election and the promise of financial reform caused the stock to rally over 20% to the start of 2017. The law of large numbers suggests that it takes a significant amount of buying to move a $300 billion company 20% in less than 2 months. Since this time the stock has been range bound in the orange aread highlighted on the 1 year chart above. The stock has been finding
resistance at around $95 per share and has found support as low as $82.50 per share. It is unclear how long this period of consolidation will last but in all probability there will need to be a fundamental catalyst before the stock breaks its trend in either direction.

Following the "sugar rush" to its stock price after the election of Donald Trump the JPM stock has been largely consolidating its gains.

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