JPMorgan sharpens decline - Analysis - 07-11-2018

JPMorgan & Chase's stock fell in the intraday levels to lean on the pivotal support of 104.93, representing the ratio 38.2% of Fibonacci retracement levels for an ascending wave in the medium term (from 81.64 to 119.33), with negative pressure from the 50-day SMA, coupled with negative signals from the RSI. 

Therefore we expect more losses for the stock, especially if the support of 104.93 was breached, targeting the next one at 100.48, which represents the ratio 50% of the same retracement levels. 

Expected trend for today:  Bearish