Just like the results of the previous meeting on March 16, the results of the Fed meeting on May 4 has caused a significant bounce in the stock market. JPMorgan stocks aren’t an exception here, with their increase of 3.3%.
Same as last time, now there is a falling from the January maximum trend line. The attempt to hold on a higher level in March didn’t succeed. In case the trend doesn’t last under the bulls’ pressure, the shares might move to the previous local maximum at the level of 133.5. In case of falling, there’s a high risk of renewal of the year’s minimum levels below 118.2.
This content is for informational purposes only and is not intended to be investing advice.
