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- 1 JP Morgan Chase recently cleared the air about Jamie Dimon’s plan to run for President.
- 2 JPM stock price is currently seeing a consolidated trend in price. It has seen a gain of 0.18% in the intraday session.
JP Morgan Chase & Co is one of the biggest leaders in investment banking, commercial banking and asset management. The company has a very long history and strong fundamentals. Recently, four JP Morgan advisors were named in Barron Top 100 Financial advisors. The company is also a strong advocate of crypto currency and has an investment in it. Recently, JP morgan has launched a pilot program for blockchain settlement with six Indian banks. The company has also announced that they seek to scale investment in emerging carbon removal technologies.
JP Morgan Chase & Co had released their first quarter result of 2023 in April. The company reported revenue of $38.9 Billion with $868 Million of net investment securities losses. The average loans of the Company climbed by 6% and average deposits down by 8%. Meanwhile, the net income of the company is around $12.6 Billion which is up by 52%.
Jamie Dimon the CEO of JP Morgan Chase & Co will not be running for the office as said by the bank.The company has a total market cap of $407 Billion with a positive EPS. JPM stock price is currently a few inches away from the 52 week high. If the stock price jumps above $150 then a strong rally can be seen in future.
Will JPM Stock Price Rally For $150?
JPM stock price is currently seeing a weak bearish consolidation on the weekly chart. The stock price is currently near $139 with a small gain in the intraday session. JPM stock price is currently in a consolidated trend on the daily chart. The upside trend of JP Morgan Chase & Co can see a halt near the value of $144. Meanwhile, the support of the JPM stock price can be seen near $133. JPM stock price is trading above the 50 and 100 Daily Moving Average. If the stock price drops below the 50 and 100 DMA then a strong downside momentum can be seen.
The RSI of JPM stock is near 55 suggesting its presence in the neutral zone. The overall sentiment for the asset price is neutral.
Summary
JP Morgan Chase & Co. released their quarterly results last month and it was better than expected for the investors. JPM stock price is currently in a consolidated trend and can see a new high in the future.
Technical Levels
Major Support:$133
Major Resistance: $144
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
