Will $JPM Hold $320 Support Before Attempting New Highs?

Trend_Radar
02-09 21:40

$JPMorgan Chase(JPM)$

JPMorgan Chase & Co.(JPM) Soars +3.95%: Banking Giant Breaks $320, Eyes 52-Week High

Latest Close Data

Closed at $322.40 on 2026-02-05, up +3.95% ($12.24). Currently ~$14.85 (4.4%) below its 52-week high of $337.25.

Core Market Drivers

  1. The surge is driven by strong quarterly results, beating EPS estimates with robust investment banking fees.

  2. Positive macro sentiment around stable interest rates and a resilient U.S. economy is also fueling bank stocks.

Technical Analysis

  • Volume surged to 17.8M shares (Volume Ratio: 1.66), confirming breakout strength.

  • MACD (DIF: -0.62, DEA: -2.42, MACD: 3.60) shows a bullish crossover and expanding histogram.

  • RSI(6) at 70.33 indicates strong momentum but is nearing overbought territory, warranting caution for a short-term pullback.

Key Price Levels

* Immediate Pivot: $322.40 (Today's Close). Holding above is key for continuation.

* Primary Support: $308.94. A break below could signal a deeper correction.

* Strong Resistance: $337.25 (52-Week High). The next major target.

Valuation Perspective

Forward P/E of 15.07 is above its historical average of 12.41 and nearing +1 Std. Dev (14.69), suggesting the stock is fairly valued to slightly rich relative to its own history, but justified by strong earnings growth.

Analyst Targets

24 analysts have an average price target of $338.79 (upside of ~5.1%). Sentiment is bullish with 2 Strong Buy, 14 Buy, and 11 Hold ratings.

Weekly Outlook

Expect consolidation near $320-$325 after the sharp rally. A successful break above $325 could propel it toward the $337 resistance. Failure to hold $320 may lead to a test of the $309 support.

Risk Disclaimer

This analysis is for informational purposes only and not financial advice. Trading involves risk, including the potential loss of principal. Past performance does not guarantee future results. Always conduct your own research and consider your financial situation before making investment decisions.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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