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Will JPMORGAN CHASE & CO breakout?

By Mill Chart

Last update: Sep 20, 2023

Our stock screener has identified JPMORGAN CHASE & CO (NYSE:JPM) as a potential breakout candidate. This technical breakout setup pattern occurs when the stock consolidates after a strong uptrend. While the actual breakout is uncertain, it may be worth keeping an eye on NYSE:JPM.

JPM Daily chart on 2023-09-20

Technical Analysis Observations

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

We assign a technical rating of 7 out of 10 to JPM. In the last year, JPM was one of the better performers, but we do observe some doubts in the very recent evolution.

  • The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
  • Looking at the yearly performance, JPM did better than 87% of all other stocks. On top of that, JPM also shows a nice and consistent pattern of rising prices.
  • JPM is one of the better performing stocks in the Banks industry, it outperforms 96% of 418 stocks in the same industry.
  • JPM is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so JPM is performing more or less in line with the market.
  • In the last month JPM has a been trading in a tight range between 142.65 and 149.90.

Our latest full technical report of JPM contains the most current technical analsysis.

How does the Setup look for NYSE:JPM

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:JPM has a 8 as its setup rating:

JPM has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 148.76, a Stop Loss order could be placed below this zone.

Trading setups like NYSE:JPM

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Keep in mind

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.



NYSE:JPM (11/30/2023, 5:30:00 PM)

After market: 156.1 +0.02 (+0.01%)


+1.76 (+1.14%)

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