JP Morgan Chase & Co (JPM)NYSE
  Report No. 592    Analysis by: Harry Aloof     SEPTEMBER 28, 2008

JP MORGAN CHASE & CO (JPM-NYSE): Technical Viewpoint: From a low of $34.04 on Sep 18, 2008 prices rallied, reaching a high of $48.00 on Sep 19, 2008. A decline saw prices pull back, reaching a low of $40.06 on Sep 23, 2008. Another rally saw prices penetrate resistance line "A", closing 9/26/08 at $48.24. Technicals: MACD Index (MACD): A Buy Alert! was given on Sep 19, 2008 when the solid line crossed the dotted line to the upside. Support: Remains at $42.00. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Sep 25, 2008. A P&F downside reversal takes place at $46.00. Summary: Technical indicators have turned bullish. BUY! JP Morgan Chase & Co (JPM-NYSE) @ $49.13 Stop: Use a protective stop of $47.13. JP Morgan Chase & Co is currently trading @ $48.24 plus $4.78 on Sep 26, 2008. Price Objective: $59.50. Risk/Reward: $2.00 VS. $10.37. Today's Risk Reward Ratio: 5:1
                          

Three Part
Technical Chart

Daily Candle Stick Chart
Point & Figure Chart
Technical Study

Price Objective:
$59.50
Risk/Reward:
$2.00 VS. $10.37
Risk/Reward Ratio:
5:1

 

 

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