JP Morgan & Chase Co. (JPM) Elliott Wave Analysis - Trading Lounge Daily Chart

JPM Elliott Wave Technical Analysis

Function: Trend

Mode: Impulsive

Structure: Motive

Position: Minor wave 5

Direction: Upside in 5 of (5)

Details: The analysis indicates an upward continuation in Minor wave 5, aiming for the next significant TradingLevel at $300. If the stock sustains support above MG1 at $230, it is likely to maintain its bullish momentum.

JPM Elliott Wave Technical Analysis – Daily Chart

The daily chart highlights that Minor wave 5 is underway, with momentum targeting a move higher in wave 5 of (5). Sustaining support above $230 in MG1 could open the path for an advance toward the next TradingLevel at $300. The bullish structure remains intact, provided the stock holds support above $230.

JP Morgan & Chase Co. (JPM) Elliott Wave Analysis - Trading Lounge 1H Chart

JPM Elliott Wave Technical Analysis

Function: Trend

Mode: Impulsive

Structure: Motive

Position: Wave (c) of {ii}

Direction: Bottom in wave (c)

Details: The current move suggests nearing a bottom in wave (c) of {ii}, with equality of (c) vs. (a) anticipated around $236. A reversal at this level may trigger the next bullish wave.

JPM Elliott Wave Technical Analysis – 1H Chart

The 1-hour chart signals that JPM is approaching the conclusion of wave (c) of {ii}, with equality between (c) and (a) projected at $236. Once the correction concludes, a bullish reversal is expected, potentially initiating the next impulsive wave and resuming the upward trend.

Technical Analyst: Alessio Barretta

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Summary of JPM Elliott Wave Analysis

This Elliott Wave analysis of JP Morgan & Chase Co. (JPM) evaluates both the daily and 1-hour charts to gauge market direction. Using Elliott Wave Theory, the analysis anticipates a bullish continuation in Minor wave 5 on the daily chart and a reversal into the next impulsive wave on the 1-hour chart.