JP Morgan Chase (JPM stock): If earnings expectations are surpassed, the price could move towards $137

AAATrade Team AAATrade

Today’s instrument is the JPMorgan Chase & Co‘s stock traded on the NYSE exchange under the ticker JPM.

When we look at the JPM ‘s chart, we can see its fall from the $133 range down to $128.8 on the 8th of April, and the immediate rebound back up to the $131 range. In the following days, it managed to slowly climb to the $133 range, reaching as high as $135 and it was last found trading at $131.65.

JPMorgan Chase & Co has scheduled a quarterly earnings announcement today 13/04/2022. If earnings expectations are surpassed, we could expect the price to move upwards, towards $137.

Today we can expect a move towards and above $135 closest temporary resistance level.

If, however, it doesn’t manage to hold on to the current level then a move towards the $128.8 closest support level can be expected.

Author

AAATrade Team

AAATrade

The AAATrade Team has extensive experience in content writing for the financial industry. Stelios Nikolaou is the lead writer of the team, he currently works at AAATrade to provide research and content writing services.

EUR/USD retreats toward 1.1600 after upbeat US data

EUR/USD pulls away from session highs and declines toward 1.1600 in the American session on Wednesday. Upbeat private sector employment and ISM Services PMI data from the US help the US Dollar (USD) stay resilient against its rivals, limiting the pair's upside.

GBP/USD meets resistance around 1.3400

In line with its risk-linked peers, GBP/USD stages a modest comeback on Wednesday, although meeting some resistance around the 1.3400 neighbourhood. Cable’s humble recovery struggles to gather momentum as the Greenback benefits from better-than-forecast macroeconomic data releases.

Gold loses traction after testing $5,200

Gold corrects lower after testing $5,200 but manages to stay in positive territory in the second hald of the day on Wednesday. The precious metal remains well supported by the deterioration of the geopolitical scenario in the Middle East, while the US Dollar's resilience caps the upside.