- Ongoing downtrend raises chances of a persuasive break of existing support at $131.37
- Citigroup's upper Bollinger Band® is at $49.8 which indicates a further downward move may follow.
$132.08 marks the crossover point where JP Morgan Chase price action falls below its 10 day Simple Moving Average. On the other hand, note that 'Bullish Harami' is a candlestick chart indicator used for detecting reversals in an existing bear trend. It is generally indicated by a small price increase that's contained within a broader downward price movement and is commonly associated with a bearish trend coming to an end. A convincing break of this target could pave the way for deeper losses.
In the short term, JP Morgan Chase is expected to maintain its recent downtrend and continue spiralling lower.
In contrast, Citigroup's bearish trend is facing a possible turning point at $46.85, which is only 92 cents away. Will be interesting to follow.
In contrast, Citigroup's bearish trend is facing a possible turning point at $46.85, which is only 92 cents away. Will be interesting to follow.
In contrast, Citigroup's bearish trend is facing a possible turning point at $46.85, which is only 92 cents away. Will be interesting to follow.
Fundamental indicators – United States Philadelphia Fed Manufacturing Index (Nov) came out at -19.4, while a consensus of analysts was expecting -6.2.
Upcoming fundamentals: United States Existing Home Sales (Oct) will be released tomorrow at 15:00 UTC.