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JP Morgan Moving Above Resistance
Published on Monday, 06 February 2012 07:36 Written by Danny Miller
New York, February 6th (TradersHuddle.com) - Shares of JP Morgan Chase & Co. (NYSE:JPM) closed the trading session at $38.28 just above calculated resistance at $38.10 effectively breaking out, grabbing the attention of momentum traders, which could eventually push the stock to different trading range
JPMorgan Chase & Co. (NYSE:JPM) provides global financial services and retail banking. The Company provides services such as investment banking, securities services, asset management, private banking, card member services, commercial banking, and home finance. JP Morgan Chase serves business enterprises, institutions, and individuals. JP Morgan, the second largest U.S. lender, was founded in 1823 and is headquartered in New York, NY.
JP Morgan's stock was trading in a well defined range with support at $34.50 and resistance at $38.10, given that this range was broken traders will be closely monitoring the stock
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