JP Morgan & Chase Co., () Daily ChartJPM Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Minor wave 5.DIRECTION: Upside in 5 of (5).DETAILS: Looking at further upside within Minor wave 5 as we are trading above TradingLevel2 at 200$ and the next TL stands at 300$.JP Morgan & Chase Co., (JPM) 1H ChartJPM Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave {iv} of 5. DIRECTION: Bottom in wave {iv}.DETAILS: Looking for another leg lower within wave (c) of {iv} as we are missing downside after a sharp move down(potential wave (a)) and a corresponding pullback higher in what could be wave (b). Looking for MinorGroup1 to hold as support.This Elliott Wave analysis for JP Morgan & Chase Co., (JPM) examines both the daily and 1-hour charts to assess its current market trend, utilizing Elliott Wave Theory to anticipate potential future movements.* JPM Elliott Wave Technical Analysis – Daily Chart*On the daily chart, JPM is progressing within Minor wave 5 of the larger wave (5). The stock is trading above TradingLevel2 at $200, indicating a bullish trend. The next key resistance level stands at $300, which could act as a significant psychological and technical barrier.* JPM Elliott Wave Technical Analysis – 1H Chart*On the 1-hour chart, JPM is in the midst of completing wave {iv} within Minor wave 5. A sharp move down, potentially wave (a) of {iv}, has occurred, followed by a corrective bounce in wave (b). The next move is expected to be a final leg lower, wave (c), to complete wave {iv}. The area around MinorGroup1 should act as support, potentially marking the bottom of wave {iv} before resuming the upward trend in wave {v}.Technical Analyst : Alessio BarrettaMore By This Author:
Elliott Wave Technical Analysis – JPMorgan & Chase Co.
