Shares of JPMorgan Chase & Co., one of the largest multinational financial groups in the United States, are moving in a correction trend at 243.00.

On the daily chart, the price is above the resistance of the ascending channel, with a dynamic range of 240.00–210.00 , ready to grow further.

On the four-hour chart, the price is trying to break out of the channel resistance, failing to complete the price gap at 235.80–220.80 , and after consolidating above the yearly high of 247.00 , it is likely that the positive trend will continue to the level of 270.00. A decline is possible in case of consolidation below the November 7 low of 235.00.

Technical indicators still signal buy : Fast EMA on Alligator indicator is above signal line and AO histogram is forming bars in positive zone.

Trading Tips

Long position can be opened after price increases and bases above 247.00 with target at 265.00 stop loss at 240.00. Execution period : 7 days or more.

A short position can be opened after the price drops and consolidates below 236.00 with a target at 219.00 and a stop loss at 240.00.