JPMorgan – Gaps in testing

The share of JPMorgan Chase (NASDAQ:TSM) had a amid the long-running bull market last October Record high at $172.96 marked. From there, she established one medium-term downtrend, which is still intact. At the support area of ​​the November 9, 2020 gap ($105.00-110.35), the July reading marked a 2-year low at $106.06 and formed one bullish doji candlestick in the daily chart. After a recovery rally he went last in the consolidation mode above. With yesterday course jump he finally set new bullish accents. He overcame the 50-day line and the Downtrend line from January interim high. The technical focus is now on the upper edge of the Down gap from June 13 at $119.32. A daily close above would generate a follow-buy signal and next potential targets and hurdles $122.73 and $125.27 activate. Other barriers are at $128.67 and $133.15. Of the overriding downtrend remains safe as long as the latter mark is not cracked. Looking at the bottom, the share certificate has the next support areas at $115.99-116.78 and $111.02-112.83. Below that, the recovery scenario would be crushed with immediate downside risks towards $105.10/106.06.

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