22Feb

JP Morgan Chase & Co.(JPM) Elliott Wave Technical Analysis: Optimistic Outlook as Upside Momentum Gathers Steam

JPM Elliott Wave Analysis Trading Lounge Daily Chart, 22 February 24

Welcome to our JPM Elliott Wave Analysis Trading Lounge, your premier destination for comprehensive insights into JP Morgan Chase & Co. (JPM) using Elliott Wave Technical Analysis. As of the Daily Chart on 22nd February 2024, we explore significant trends shaping the market.

JPM Elliott Wave Technical Analysis – Daily Chart

FUNCTION: Trend  

MODE: Impulsive

STRUCTURE: Motive

POSITION: Minor wave 3 of (3).  

DIRECTION: Upside in wave {iii} of 3.  

DETAILS: After a series of ones and twos around Medium Level 150, we are looking for continuation higher within wave 3 as we seem to be moving higher, with increasing volume, but a concerning RSI bearish divergence.

In terms of wave dynamics, we observe a dominant impulse function with a motive structure. The current position is in Minor wave 3 of (3), indicating upside momentum in wave {iii} of 3. Despite a series of consolidations around Medium Level $150, we anticipate further upside continuation within wave 3. Although we observe increasing volume, a bearish divergence in the RSI warrants attention.

Technical Analyst: Alessio Barretta

JP-Morgan-day-Sock-c...

 


 

JPM Elliott Wave Analysis Trading Lounge 4Hr Chart, 22 February 24

JPM Elliott Wave Technical Analysis – 4Hr Chart

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Wave (iii) of {iii}.

DIRECTION: Upside into wave {iii}.

DETAILS: Looking for acceleration higher into wave (iii) of {iii} as if the count is correct, we should accelerate higher aggressively and a break south of 172$ would invalidate the count.

Here, the wave function maintains its impulsive mode with a motive structure. The present position is in Wave (iii) of {iii}, signaling further upside movement into wave {iii}. We anticipate acceleration higher into wave (iii) of {iii}. It's important to note that a break below $172 would invalidate this count.

Technical Analyst: Alessio Barretta

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

See Previous:  NVIDIA Corp. (NVDA)

JP-Morgan-4h-Sock-ch...

Related

Elliott Wave analysis insights for Berkshire Hathaway Inc. (BRK.B) as of February 12, 2024.

Elliott Wave analysis insights for Berkshire Hathaway Inc. (BRK.B) as of February 12, 2024.

Explore the latest Elliott Wave analysis insights for Berkshire Hathaway Inc. (BRK.B) as of February...

Read More >
Pepsico Inc. (PEP) Elliott Wave Analysis: Unveiling Market Trends - February 13, 2024

Pepsico Inc. (PEP) Elliott Wave Analysis: Unveiling Market Trends - February 13, 2024

Explore the Elliott Wave Technical Analysis of Pepsico Inc. (PEP) on both daily and 4-hour charts as...

Read More >
In-depth Elliott Wave Technical Analysis of SOUTH32 LIMITED (S32) listed on the Australian Stock Exchange (ASX)

In-depth Elliott Wave Technical Analysis of SOUTH32 LIMITED (S32) listed on the Australian Stock Exchange (ASX)

This article provides an in-depth Elliott Wave analysis of SOUTH32 LIMITED (S32) listed on the Austr...

Read More >
Unlocking Market Potential: SP500 at 5000 and Nasdaq 100 at 18000 Resistances - Elliott Wave Analysis Update

Unlocking Market Potential: SP500 at 5000 and Nasdaq 100 at 18000 Resistances - Elliott Wave Analysis Update

SP500 at 5000, Nasdaq 100 near 18000 resistance. Markets may temporarily breach, but gravitational p...

Read More >
Comprehensive Elliott Wave Analysis for PayPal (PYPL): Unlocking Stock Trends and Market Opportunities

Comprehensive Elliott Wave Analysis for PayPal (PYPL): Unlocking Stock Trends and Market Opportunities

This article provides an in-depth Elliott Wave analysis of PayPal Holdings Inc. (PYPL), covering bot...

Read More >

Buy 1 Month

Get 3 Months!

Special Offer:

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competive edge with expert insights in to:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Social Chat
  • Elliott Wave Algorithm
  • Screener
  • TradingLevels
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
-Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on