JPMorgan touches SMA resistance - Analysis - 08-11-2018

JPMorgan & Chase's stock rose in the intraday levels, facing the resistance of 111.91 while touching the resistance of the 50-day SMA, scoring a final profit of 1.72%, or 1.88 points, while the RSI reached overbought levels compared to the stock's movements. 

Therefore we expect the stock to return lower, targeting the pivotal support of 103.23, as long as the resistance of 111.91 holds on. 

Expected trend for today: Likely Bearish