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- 1 JPM stock price has been following a bearish trend for the last month.
- 2 The stock price majorly experienced bears’ dominance which dropped its RSI.
JPMorgan Chase & Co. (JPM) stock price experienced a bearish trend in the last 1 month that showed over 6% price drop. While showing a falling chart, JPM stock is now showing a bullish trend as per its recent day performance. If this bullish support stays in this week then JPM’s share price may reach near to its 50-day EMA.
JPM Stock Price Analysis
In its September 4, 2023, yesterday’s trading session, JPM stock price rose 0.33% while closing at $146.82. Its trading range was between $148.08 to $145.70, whereas its opening price was $146.09. It must be noted that this recent day’s performance has taken the stock price slightly up from its 100-day EMA.
With the recent bulls’ support, the JPM stock price has started its upside journey toward its 50-day EMA. However, the stock is still struggling between its 50 and 100-day EMA. While the RSI curve at 39 denotes weakness it is near to oversold territory, so, a short-term bounce is possible. Nearly 7 Million of volume was noted in the recent trading session with a bullish trend that needs to be consistent in its upcoming sessions.
The analysts offer a 1-year price forecast for JPM stock that has a maximum estimate of $219.00 whereas the minimum estimate is $140.00. It must be noted that their price target is at $169.70, up by over 15% from the recent closing price of the stock. However, in the past 3 months, the company has given a “buy” rating to JPM shares.
The Financial Update of JPMorgan Chase & Co.
JPMorgan Chase & Company (NYSE: JPM), an American multinational and universal bank and financial services firm, has a market cap of nearly $426.67 Billion. According to its recent quarter (Q2) 2023 report its net income is $14.38 Billion. While the company paid its dividends on a quarterly basis. However, the last dividend per share was $1.00 and as of today, the Dividend Yield (TTM)% is 2.72%.
According to the Q2 2023 report, JPM earnings per share (EPS) is $4.75 whereas the estimation was $3.94 which accounts for a 20.65% surprise. Its revenue for a similar quarter amounts to $41.31 Billion despite the estimated figure of $38.62 Billion.
The estimated EPS for the next quarter is $3.83, and revenue is expected to reach $39.51 Billion. Last year, the revenue figure of JP Morgan Chase & Co. amounted to $128.69 Billion. Out of which $55.02 Billion came from its highest performing source at the moment, “consumer and community banking”.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Saurav Bhattacharjee is in charge of the Broadcast development team of The Coin Republic.
He has been covering the Metaverse and NFT niche for the past 2 years.
With stellar interviews on his portfolio like Nicehash, Paxful, WallstreetWolvesNFT, Bitholla, Totemfi, EOS.io etc. Saurav has spearheaded the NFT SUPERSTARS AWARD and successfully hosted the first award in 2021.
