JPMorgan Chase may rise to 220.00 - 224.90

196.3 is our pivot point.

Our preference

The upside prevails as long as 196.3 is support.

Alternative scenario

The downside breakout of 196.3 would call for 188 and 183.1.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 195.291 and 193.5998). Finally, JPMorgan Chase is trading above its upper Bollinger band (standing at 204.47).

Supports and resistances

229.9 **

224.9 *

220 **

214.9

204.79 (USD-last)

199.6

196.3 **

188 *

183.1 **

Number of asterisks represents the strength of support and resistance levels.