JP Morgan Chase & Co

By root | October 11, 2006 AAA

For today's chart we've chosen to take a look at JPM because the bulls have pushed the price of the company's shares toward the potential resistance of an Andrew's pitchfork. As you can see from the chart below, the center trendline of the indicator was able to prevent the price from surging higher in August and we'd expect this to be the case again. Many traders expect to see JPM continue trading between the confined range of the center trendline and the lower support level.



JPM_101206.gif

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