A Bearish Sign Appears On JPMorgan Chase's Chart

If history is any guide, there may be trouble ahead for shares of JPMorgan Chase JPM. A so-called "death cross" has formed on its chart and, not surprisingly, this could be bearish for the stock.

What To Know: Many traders use moving average crossover systems to make their decisions.

When a shorter-term average price crosses above a longer-term average price, it could mean the stock is trending higher. If the short-term average price crosses below the long-term average price, it means the trend is lower.

Why It's Important: The 50-day and the 200-day simple moving averages are commonly used.

The death cross occurs when the 50-day moves below the 200-day. This could mean the long-term trend is changing.

That just happened with JPMorgan Chase, which is trading around $149.22 at publication time.

signals

Remember: Seasoned investors don't blindly trade Death Crosses.

Instead, they use it as a signal to start looking for short positions based on other factors, like price levels and company fundamentals & events.

For seasoned investors, this is just a sign that it might be time to start considering possible short positions.

With that in mind, take a look at JPMorgan Chase's past and upcoming earnings expectations:

Quarter Q4 2021 Q3 2021 Q2 2021 Q1 2021
EPS Estimate 3.01 3 3.20 3.1
EPS Actual 3.33 3.74 3.78 4.5
Revenue Estimate 29.90B 29.76B 29.96B 30.52B
Revenue Actual 30.35B 30.44B 31.39B 33.12B

Also consider this overview of JPMorgan Chase analyst ratings:

ratings

Do you use the Death Cross signal in your trading or investing? Share this article with a friend if you found it helpful!

This article was generated by Benzinga's automated content engine and reviewed by an editor.

Posted In: BZI-CROSSMarketsMoversTrading Ideas