By Nicholas Santiago
| Stock Markets
| Jan 31, 2013 06:05AM GMT |
JPMorgan Chase & Co. (JPM) continues to inch higher today. The stock is trading at $47.22, +0.10 (0.22%). At this point, JPM is short term extended as it is approaching its first major resistance level. This level matches the double top high from 2011 at $48.35. Should JPM hit this level in the next couple weeks, expect a pull back.
Following that level, the eye turns to the pre financial crisis levels of $53.25. It is possible that, later in the year, the stock gets there.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.