JPM – Bank Stock on Fire! Breakout Setup in Play

🔥Technical Analysis (TA) for JPM – JPMorgan Chase

* Trend: JPM is forming a symmetrical triangle, consolidating after a strong uptrend. A breakout is imminent.
* Price Action: The stock recently hit $278.55 before pulling back, now testing the triangle support zone.

* Support & Resistance:
* Resistance: $278.55 (recent high), followed by $282 breakout target.
* Support: $271.04 (trendline support), with major support at $269.58.

* Indicators:
* MACD: Slight bearish crossover, indicating a possible retest before continuation.
* Stochastic RSI: Overbought but still strong, suggesting high momentum.

Trade Outlook
* Bullish Scenario: A breakout above $278.55 could trigger a move toward $282+.
* Bearish Scenario: A breakdown below $271 could see a test of $269.58 support.

💡 Final Thoughts: JPM is showing signs of institutional interest and could be gearing up for a strong move. Traders should watch for volume confirmation at the breakout level.

🚨 This analysis is for educational purposes only and does not constitute financial advice. 🚨