JPMorgan seeks a bottom to boost it - Analysis - 16-08-2018

JPMorgan & Chase's stock fell in the intraday levels, seeking a bottom to bounce it higher anew and recording a loss of 0.83% in the last session, or 0.95 points, while getting buoyed by a positive pattern that formed in the short term, the Falling Wedge pattern, while the Relative Strength Index reached extremely oversold levels compared to the stock's movements, with positive pressure from the 50-day SMA. 

Therefore we expect the stock to return higher, targeting the pivotal resistance of 119.33, as long as the support of 111.45 holds on.