JP Morgan & Chase Co. (JPM) Elliott Wave technical analysis [Video]
|JPM Elliott Wave technical analysis
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Function: Trend.
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Mode: Impulsive.
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Structure: Motive.
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Position: Wave 3.
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Direction: Upside in wave 3.
Details:
JP Morgan (JPM) appears to have completed wave 2, setting the path for further upside within wave 3 of Primary wave (5). The focus is now on reaching TradingLevel3 at $300, with expectations of continued bullish momentum as wave 3 advances.
JPM Elliott Wave technical analysis
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Function: Trend.
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Mode: Impulsive.
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Structure: Motive.
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Position: Wave {ii} of 3.
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Direction: Bottom in wave {ii}.
Details:
On the 1-hour chart, JPM is nearing the completion of wave {ii} of 3, setting the stage for a possible strong third-of-a-third rally. Alternatively, there is a minor chance that price action is within wave (iv) of {i}. Despite the alternate view, the bullish structure remains intact, favoring a move higher once the current corrective phase concludes.
Market summary
This Elliott Wave analysis for JP Morgan & Chase Co. (JPM) covers both the daily and 1-hour charts, offering a detailed view of the ongoing market trend through Elliott Wave Theory. It projects the next potential bullish moves while acknowledging possible short-term alternatives.
JP Morgan & Chase Co. (JPM) Elliott Wave technical analysis [Video]
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