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

Unlocking ASX Trading Success: COMPUTERSHARE LIMITED. - CPU Stock Analysis & Elliott Wave Technical Forecast

Unlocking ASX Trading Success: COMPUTERSHARE LIMITED. - CPU Stock Analysis & Elliott Wave Technical Forecast

This comprehensive report offers an in-depth Elliott Wave Technical Analysis of COMPUTERSHARE LIMITE...

Read More >
U.S.Dollar/Swiss Franc (USD/CHF) Forex Elliott Wave Technical Analysis: Precise Forex Trading Strategies

U.S.Dollar/Swiss Franc (USD/CHF) Forex Elliott Wave Technical Analysis: Precise Forex Trading Strategies

This article provides a comprehensive USD/CHF Elliott Wave Analysis, detailing impulsive wave patter...

Read More >
Discover How to leverage Elliott Wave Theory to make Informed Decisions about McDonald's Corp. Stock: MCD Elliott Wave analysis

Discover How to leverage Elliott Wave Theory to make Informed Decisions about McDonald's Corp. Stock: MCD Elliott Wave analysis

This article provides a detailed Elliott Wave analysis of McDonald's Corp. (MCD), focusing on ke...

Read More >
Tesla Inc.(TSLA:NASDAQ) Elliott Wave Technical Analysis 18 October 23

Tesla Inc.(TSLA:NASDAQ) Elliott Wave Technical Analysis 18 October 23

Tesla Inc.(TSLA:NASDAQ) Elliott Wave Technical Analysis  TSLA: 1-hour Chart and 4H Chart, 18 October...

Read More >
Costco Wholesale Corp. (COST) Elliott Wave Technical Analysis: Stock's Recent Price Movements, Potential Trading Opportunities

Costco Wholesale Corp. (COST) Elliott Wave Technical Analysis: Stock's Recent Price Movements, Potential Trading Opportunities

This article provides a detailed Elliott Wave analysis for Costco Wholesale Corp. (COST) as of July ...

Read More >
Axis Bank Ltd Stocks Analysis – AXISBANK Elliott Wave Technical Analysis to make informed Decisions about Bank shares

Axis Bank Ltd Stocks Analysis – AXISBANK Elliott Wave Technical Analysis to make informed Decisions about Bank shares

This article provides a detailed analysis of Axis Bank's stock using Elliott Wave theory and tec...

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