JPMORGAN CHASE AND COMPANY - JPM
Monthly chart shows abc three wave pattern into .618 fib resistance area - creating a bearish gartley butterfly pattern. Small uptrend line broke, showing bearish momentum picking up.
Weekly chart shows price below all key moving averages.
Daily chart shows increased selling pressure on Thursday and Friday. Friday's price action tested the current lows at $42.16 where early buyers slowly stepped back in to close it at $43.15. No buy signal as of yet evident.
Sunday, November 04, 2007
JPM Analysis for 11.04.2007
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