JPM Slides, Watch This Level
InTheMoneyStocks.com | Jul 09, 2014 10:50AM ET
Today's leading global bank stock J P Morgan Chase & Co (NYSE:JPM) is trading lower by 0.09 cents to $55.66 a share. Traders and investors should note that JPM is the most important financial stock in the industry group. The stock has now made a lower high on the daily chart after topping out in March 2014 at $61.48 a share. Lower highs should always be viewed as a sign of weakness when looking at the charts. Today, day traders should watch the $55 level, which should be solid intra-day support. This was a former resistance level in early June that will now be support when price retests the level.
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