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JP Morgan Chase & Co. (JPM) Stocks Analysis & Elliott Wave Technical Forecast


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JPM Elliott Wave Analysis Trading Lounge Daily Chart

JP Morgan Chase & Co., (JPM) Daily Chart

JPM Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive  

POSITION: Wave 3 of (3).

DIRECTION: Upside in wave 3.  

DETAILS: We are looking at a 1-2-1-2  from the 100$ lows, which seems to be confirmed by the steepness of the upside into what is now wave 3. Alternatively we had a flat correction in wave (2) and it ends where Minor wave 2 currently is.

 

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JPM Elliott Wave Analysis Trading Lounge 4Hr Chart

JP Morgan Chase & Co., (JPM) 4Hr Chart

JPM Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Minute wave {iii}

DIRECTION: Looking for upside in wave (v).  

DETAILS: We are targeting TL2 at 200$ as a wave {iii} target, the increasing volume could suggest sellers are entering the market, looking for 200$ to be reached first.  

 

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Welcome to our JPM Elliott Wave Analysis Trading Lounge, your go-to source for insights into JP Morgan Chase & Co. (JPM) using Elliott Wave Technical Analysis. Let's dive into the market dynamics as of the Daily Chart on 21st March 2024.

* UNH Elliott Wave Technical Analysis – Daily Chart*

Our analysis indicates a trending function characterized by impulsive mode and motive structure, positioned in Wave 3 of (3). The direction points to upside momentum in wave 3. We observe a potential 1-2-1-2 pattern originating from the $100 lows, supported by the steepness of the upside movement into the current wave 3. Alternatively, we consider the possibility of a flat correction in wave (2), ending at the level of Minor wave 2.

* UNH Elliott Wave Technical Analysis – 4Hr Chart*

Here, we identify a trending function marked by impulsive mode and motive structure, positioned in Minute wave {iii}. The direction suggests anticipation of upside movement in wave (v). We set our sights on TL2 at $200 as the target for wave {iii}, with increasing volume indicating potential seller activity entering the market. We anticipate the $200 level to be reached first before assessing further market developments.

Technical Analyst : Alessio Barretta

Source : Tradinglounge.com get trial here!

 

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