JP Morgan Chase & Co

By root | August 09, 2006 AAA

For today's chart we've chosen to take a look at JPM because it has recently bounced off the resistance of an Andrew's pitchfork. As you can see from the chart below, we've also added the MACD, which has recently crossed below its signal line. This bearish crossover will be used by technical traders to suggest that we could see a continued move lower. We'd expect to see JPM head toward the support of the lower trendline near $42.50.



JPM_081006.gif

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