JP Morgan stock: buy or sell
Updated on:
May 17th, 2021
2
JP Morgan stock brief
- After reaching all-time highs last Friday, JP Morgan closed at $164.01 growing a 1.55%
- The price is currently above the upper Bollinger band, which is usually an indicator of a near-term correction
- Last Thursday, it broke out above $160.74, a resistance not crossed since last March.
- On May 7, it broke out above $160.74, a resistance not crossed since last March.
- JPMorgan Chase & Co. operates as a financial services company worldwide.
Should I buy JP Morgan stock?
All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $JPM stock a buy?
In the current situation of JP Morgan there is not any eligible buy setup. This doesn't mean we expect a selloff for $JPM in the next few days, or that it may not rise higher. Simply, it doesn't match our recommended trading systems
Should I sell JP Morgan stock?
Knowing when to sell a stock is even harder than knowing when to buy it. Much like when we have to buy shares, determining when is the best time to sell is not a random decision, and we must use our own trading strategy. Our trading system selects very simple setups to guide us on when is a good time to sell a stock. Be aware that these setups should not be used for selling short $JPM stock
A guiding principle is that you should never keep an open trade that produces higher than expected losses upon purchase. The moment to sell shares should always be dictated by the stop-loss (automatic or manual)
Is it time to sell JP Morgan stock?
Currently, JP Morgan stock doesn't match any of our preferred sell setups, so if you own JP Morgan shares and your operation is in profit probably is not time to sell now
JP Morgan ratings
In the last month, 7 brokerage ratings were published for JP Morgan. General sentiment is bullish, with 5 out of 7 posting positive forecasts
| Brokerage firm | Rating |
|---|---|
| Apr 21st, 2021 | |
| DA Davidson | |
| Piper Sandler | Buy |
| Royal Bank of Canada | Buy |
| Apr 27th, 2021 | |
| Atlantic Securities | Buy → Neutral |
| Apr 30th, 2021 | |
| Wells Fargo & Company | Buy |
| May 3rd, 2021 | |
| Atlantic Securities | Buy → Neutral |
| May 6th, 2021 | |
| Wells Fargo & Company | Buy |
JP Morgan stock analysis
On May 5, the price broke out above the previous top at $157.25 on the downtrend started last March. Since then, the price action resulted in a 4.30% gain.
$JPM at new Highs
Last Friday, JP Morgan reached new all-time highs (ATH) again at $164.45. Stock surged fast in the last 10 sessions, cracking new all-time highs 3 times
SMAs overview
Supports and resistances
Price is at highs and there are not upper resistance levels.
The current support levels are:
Bollinger bands
When the price moves out of the band (above the upper line or below the lower line) it signals that the stock is maintaining a very strong momentum and therefore can correct the trend to the average. At this point, the price is beyond the upper band, and that should mean a possible near-term corrective movement (at least) until it is under the band
Relative strength index
When the stays for so long below 70 and above 30, without any indication of overbought and oversold, the indicator becomes of little use, and we are now in one of these situations.
JP Morgan stock price history
JP Morgan started trading on Mar 17th, 1980 at $0.00 per share1. Since then, JPM stock has risen by -, with an average of 0.00% per year. An investment of $1,000USD on Mar 1980 would worth $inf today.
1: Adjusted price after possible price splits or reverse-splits
Price target for JP Morgan stock
How much a stock will be priced tomorrow or next week is quite unpredictable. However, many stock price forecasts are posted every day by banks, financial institutions and independent analysts.
The following table shows the price predictions posted by brokerage institutions in the last 30 days. Again, these forecasts are not direct recommendations for small traders and must not be trusted blindly.
The average price target for JP Morgan stock calculated from the table below is $173.43. JP Morgan closed at $164.01 last Friday, that is a 5.43% than the predicted price.
| Brokerage firm | Price target |
|---|---|
| Apr 21st, 2021 | |
| DA Davidson | $179.00 → $182.00 |
| Piper Sandler | $170.00 → $182.00 |
| Royal Bank of Canada | $150.00 → $160.00 |
| Apr 27th, 2021 | |
| Atlantic Securities | $150.00 |
| Apr 30th, 2021 | |
| Wells Fargo & Company | $190.00 → $195.00 |
| May 3rd, 2021 | |
| Atlantic Securities | $150.00 |
| May 6th, 2021 | |
| Wells Fargo & Company | $190.00 → $195.00 |
Earnings and financials
In mid-April, JPMorgan Chase & Co. ($JPM) posted adjusted EPS for that significantly beat Market expectations. Quarterly EPS was $4.50 per share instead of $3.10. This Q1 report means an earnings surprise of 45.16%. Company's revenue resulted of $33.1 billion in contrast to $30.5 billion forecasted by market consensus.
Compared to the same quarter one year ago, EPS was $0.78, so current EPS means a improvement of 476.92%. Sales exploded a 82.96% on an annualized basis in the , from $199.1B to $364.2B last quarter.JP Morgan ($JPM) is hosting the quarterly earnings call next July. Forecasted for this quarter is $3.04, compared to $4.50 that was reported for Q1.
JP Morgan performance
| Company | 1m | 3m | 6m |
|---|---|---|---|
| JP Morgan ($JPM) | 6.60% | 14.90% | 47.70% |
Important note:
The viewpoints given in this post are personal and should not be followed as recommendations for you to buy or sell shares. The author of this report does not have an understanding of the particular scenarios of the reader, his or her financial statements or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Thoughts are expressed for informational purposes onlyJP Morgan summary
| Friday, May 14th, 2021 | |
|---|---|
| Open | $162.39 |
| Close | $164.01 |
| Day range | $161.99 - $164.45 |
| Previous close | $161.5 |
| Session gain | 1.55% |
| Average true range | $3.62 |
| 50d mov avg | $153.70 |
| 100d mov avg | $144.85 |
| 200d mov avg | $123.97 |
| Earnings date | July 13th, 2021 |