JPMorgan Chase (JPM): Rebound Expected Ahead of the Result
Medion Jim October 9, 2020 5:34 AM
JPMorgan Chase (JPM) will release its 3Q results on October 13. The EPS is expected to be $2.21, vs $2.68 a year ago on revenue of $28.1 billion compared to $30.1 billion a year ago.
JPMorgan Chase (JPM) will release its 3Q results on October 13. The EPS is expected to be $2.21, vs $2.68 a year ago on revenue of $28.1 billion compared to $30.1 billion a year ago. The Company is the largest financial services and retail bank in the U.S., and on October 8th, the Co stated that Christine Moy will replace John Hunter as Global Head of Interbank Information Network, according to Bloomberg.
Recently, JPMorgan has agreed to pay more than $920 million and admitted to the mistakes to settle federal US market manipulation investigations into its metal futures and Treasury securities, according to the US authorities.
From a technical point of view, the stock posted a rebound after failing to break below July's low at $90.50 on a daily chart. The relative strength index also broke above a declining trend line drawn from June, suggesting that the momentum is turning upward.
Bullish readers could set the support level at $90.50, while resistance levels would be located at $106.50 and $115.50. Alternatively, only a break below $90.50 would erase the bullish outlook and trigger a correction to the low of May at $82.00.
Source: Gain Capital, TradingView
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.