J.P. Morgan (JPM) Bullish Cycle Remains Intact
J.P. Morgan (JPM) is one of the largest and most influential financial institutions in the world, headquartered in New York City. JPM provides services in investment banking, commercial banking, financial transaction processing, and asset management, serving millions of consumers, small businesses, and many of the world's most prominent corporate, institutional, and government clients. Its operations span across the globe, making it a pivotal player in the global financial landscape.
J.P Morgan Chase (JPM) Monthly Elliott Wave Chart
Monthly Elliott Wave view of JPM above shows that the stock has continued to rally to new all-time high in impulsive manner. From all-time low, wave (I) ended at 67.17 and pullback in wave (II) ended at 14.96. The stock then rallied higher in wave (III) towards 141.10 and pullback in wave (IV) ended at 76.91. Final leg wave (V) ended at 172.96 which completed wave ((I)). Pullback in wave ((II)) ended at 101.28. The stock has extended higher again either in wave (I) or ((III)) or in wave ((III)). Either way, further upside is expected.
JPM Weekly Elliott Wave Chart
Weekly Elliott Wave View of JPM above shows that cycle from 10.10.2022 low remains in progress as an impulse. Currently the sequence remains incomplete and the stock should continue to extend higher a few more highs before ending cycle from 10.10.2022 low. Afterwards, t should correct cycle from 10.10.2022 low either as wave (II) or ((IV)) in 3, 7, 11 swing before it resumes higher.
