JPMorgan Chase & Co. JPM shares are trading higher by $0.10 at $86.53 in Wednesday's session. Ahead of its Q4 earnings report, UBS has initiated coverage with a Buy rating and a $98.00 price target.
Following its post-election rally, from its November 8 close to its closing high for the move on January 3 at $87.23, the issue has been in a trading range. Since December 20, the trading range has been defined by its December 29 low ($85.04) and its high for move on January 3 (S87.76). It should be noted the issue has made multiple highs in the $87 handle, but hasn't closed above $87.00 since posting its high close for the move.
After a flat open, it had a brief decline which found support just ahead of Tuesday's low ($85.72), only reaching $85.91. So far, the ensuing rally has come up shy of Tuesday's high ($85.90), as $85.75 stands as the current high.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.