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

Peter Mathers TradingLounge

JPM Elliott Wave technical analysis

Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave 3.
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

Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave {ii} of 3.
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]

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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