JP Morgan Chase & Co. (JPM) Elliott Wave Technical Analysis - Daily and 1h

JPM Elliott Wave Analysis – Tradinglounge Daily Chart

JP Morgan & Chase Co. (JPM) U.S. Stocks Daily Chart Analysis

Function: Trend

Mode: Impulsive

Structure: Motive

Position: Wave 3

Direction: Upside in Wave 3

Details:
JP Morgan Chase & Co. (JPM) has likely completed wave 2, opening the way for further gains within wave 3 of Primary wave (5). The Elliott Wave forecast targets the next key resistance at TradingLevel3, around $300. As wave 3 extends higher, strong bullish momentum is expected to continue, reinforcing the uptrend in JPM stock.

JPM Elliott Wave Analysis – Tradinglounge 1-Hour Chart

JP Morgan & Chase Co. (JPM) U.S. Stocks Daily Chart Analysis

Function: Trend

Mode: Impulsive

Structure: Motive

Position: Wave {ii} of 3

Direction: Bottom in Wave {ii}

Details:
On the 1-hour timeframe, JP Morgan Chase & Co. (JPM) is close to completing wave {ii} of 3, setting up for a powerful third-of-a-third wave rally. Alternatively, there’s a slight chance that JPM is in wave (iv) of {i}. Nevertheless, the overall Elliott Wave structure remains bullish, supporting a strong upside breakout once the current correction ends.

Technical Analyst: Alessio Barretta

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Market Summary
This updated Elliott Wave analysis for JP Morgan Chase & Co. (JPM) reviews both the daily and 1-hour charts, providing a technical forecast through the lens of Elliott Wave Theory. The analysis highlights a bullish outlook for JPM shares, while acknowledging minor alternate scenarios during short-term corrections.