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JPMorgan Chase & Co., (JPM) Daily Chart

JPM Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Minor wave 5

DIRECTION: Upside in 5 of (5).

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.

JPMorgan Chase & Co., (JPM) 1H 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$.

This Elliott Wave analysis for JPMorgan 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*

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.

* JPM Elliott Wave Technical Analysis – 1H 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.

Technical Analyst : Alessio Barretta

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