JPMorgan Chase & Co.

Company Overview:  JPMorgan Chase & Co. is a financial holding company engaged in investment banking, financial services, and asset management. Along with a corporate division, it operates in four segments. Consumer & Community Banking, Corporate & Investment Banking, Commercial Banking, and Asset Management are the company's segments.

As per our previous Diversified Opportunity report published on JPM on 06th October 2022, Kalkine provided a ‘Buy’ stance on the stock at USD 110.39 based on ‘Decent fundamentals, healthy top-line results, dividend distribution & share repurchase program, associated risk and valuation upside’ and the stock price has now moved by ~13.23% since then and the price has crossed the Resistance 1 and heading towards Resistance 2 levels.

Noted below are the details of support and resistance levels provided in our previous report:

 JPM’s Daily Chart

Considering the resistance around the long-term 200 – day SMA, close to target level attainment, current trading levels, risks associated, and volatile market condition on the back of rising interest rates, a ‘Sell’ rating is assigned to the “JPM” at the current market price of USD 125.00 (as of 27 October 2022, at 11:45 am PDT).  

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 27^th October 2022. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’