JPMorgan Chase may rise to 242.90 - 248.50

Our pivot point is at 215.7.

Our preference

The upside prevails as long as 215.7 is support.

Alternative scenario

Below 215.7, expect 206.4 and 200.8.

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 214.1335 and 213.6394).

Supports and resistances

254.2 **

248.5 *

242.9 **

237.2

225.37 (USD-last)

219.5

215.7 **

206.4 *

200.8 **

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