Can JPM Hit 52-Week Highs This Week?

Sep 10 22:09 2019 Print This Article

Remember the slaughter in financials on the back of low yields? Well, with the bonds reversing, all the banks are now taking a big run up. J.P. Morgan, the guy, would be happy to see his stock so resilient in the face of declining interest rates. The current guy running J.P. Morgan (JPM), Jamie Dimon, is probably equally impressed. If we are going to start seeing more easing and stimulus from the central banks, this could really move.

The SCTR for JPM is still in the middle of the range. It would be nice to see JPM seriously outperform and move above the 75% level. The relative strength downtrend (in purple) is just breaking out, which is bullish. I drew a blue line across the chart at the current price. It is less than $0.50 cents away from a new high. The PPO is turning up near zero and has lots of room to advance!

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