JPM Elliott Wave Analysis Trading LoungeJP Morgan & Chase Co., (JPM) Daily ChartJPM Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Minor wave 5DIRECTION: Upside within wave 5.DETAILS: Looking at the possibility of a wave {i} of 5 completed as we reached 220$ and we could not be looking for a pullbackn in wave {ii} before turning higher. 0.618 wave 5 vs. 1 stands at 254$.
JP Morgan & Chase Co., (JPM) 1H ChartJPM Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave {i} of 5.DIRECTION: Top in wave {i}.DETAILS: Here’s a little alternate suggesting we could still be within wave {i}, specifically in wave (iv) of {i}, ready to resume higher.This Elliott Wave analysis for JP Morgan & Chase Co., (JPM) examines both the daily and 1-hour charts to assess its current market trend, utilizing Elliott Wave Theory to anticipate potential future movements.* JPM Elliott Wave Technical Analysis – Daily Chart*On the daily chart, JPM is progressing in Minor wave 5, with the first leg, wave {i}, potentially completed after reaching the $220 level. The current outlook suggests a possible pullback in wave {ii} before resuming higher in wave {iii}. A potential upside target for wave 5, assuming it follows the 0.618 extension of the earlier waves, could be around $254.* JPM Elliott Wave Technical Analysis – 1H Chart*The 1-hour chart shows the potential for wave {i} of 5 still being incomplete, with an alternate count suggesting that the current price action may be in wave (iv) of {i}. Once this corrective phase is over, the chart indicates a likely continuation to the upside in wave (v) of {i} to complete the first leg of Minor wave 5.Technical Analyst: Alessio BarrettaMore By This Author:Elliott Wave Technical Analysis: British Pound/U.S. Dollar – Monday, Oct. 28
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