Details: Looking for continuation higher into wave 5 as we could be headed towards the next TradingLevel at 300$. If we manage to find support on top of MG1 above 230$ we could see continuation higher.

JPM Elliott Wave technical analysis – Daily chart

The daily chart suggests that Minor wave 5 is in progress, with the stock looking to continue its upward momentum in wave 5 of (5). If support is found above $230 in MG1, we could see further upside towards the next significant TradingLevel at $300. The bullish structure remains intact as long as support holds above this level.

JP Morgan & Chase Co., (JPM) one-hour chart.

JPM Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave (c) of {ii}.

Direction: Bottom in wave (c).

Details: Looking for a bottom in wave (c) as we are approaching equality of (c) vs. (a) at 236$.

JPM Elliott Wave technical analysis – One-hour chart

The 1-hour chart shows JPM nearing the end of wave (c) of {ii}, with the stock approaching the equality of (c) vs. (a) at $236. Once this correction completes, we could expect a reversal and the resumption of the bullish trend into the next impulsive wave.

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.

JP Morgan & Chase Co. (JPM) Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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