JP MORGAN CHASE
(JPM-NYSE):
Technical Viewpoint: From a low
of $20.00 on Nov 8, 2002 prices
rallied, reaching a
high of $26.14
on Dec 2, 2002. A
decline saw prices pull back, reaching a
low of
$22.80 on Dec 6, 2002.
Another rally saw prices penetrate
resistance, closing 12/16/02
at $24.80. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Oct 29, 2002 when the Histogram crossed the "0" line to the upside.
Support: Remains at $23.75. Resistance: Is at $26.14.
Point & Figure: Reversed to the upside on Dec 12, 2002. A P&F upside
reversal takes place at $23.00. Summary: Technical indicators have turned bullish. BUY! JP MORGAN CHASE
(JPM-NYSE) @ $24.88 Stop: Use a protective stop of $22.88.
JP MORGAN CHASE is currently trading @ $24.80 plus $1.18 on Dec 16, 2002. Price Objective:
$36.00. Risk/Reward: $2.00 VS. $11.12. Today's Risk Reward Ratio: 5:1
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