JPMorgan Chase & Co. (JPM) continues to inch higher today. The stock is trading at $47.22, +0.10 (0.22%). At this point, JPM is short term extended as it is approaching its first major resistance level. This level matches the double top high from 2011 at $48.35. Should JPM hit this level in the next couple weeks, expect a pull back.
Following that level, the eye turns to the pre financial crisis levels of $53.25. It is possible that, later in the year, the stock gets there.
Following that level, the eye turns to the pre financial crisis levels of $53.25. It is possible that, later in the year, the stock gets there.
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