JPMorgan Chase Stock Breaks Above Horizontal Resistance

  • Post category:Stock Trading
  • Reading time:3 mins read
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JPMorgan Chase stock confirmed a break above horizontal resistance on June 30, 2023. JPM stock is in a technical uptrend.

JPM stock chart on July 1 2023 with a break above horizontal resistance
JPM stock chart on July 1, 2023, with a break above horizontal resistance

JP Morgan Chase is a multinational investment bank and financial services company. It provides a wide range of services to individuals, corporations, and governments. The company offers services in investment banking, asset management, private banking, treasury and securities services, commercial banking, and retail banking. JP Morgan Chase operates in numerous countries and is one of the largest banks in the United States by assets.

Looking at JPM stock on the awesome financial charting system of Finviz shows a giant Symmetrical Triangle breakout chart pattern on JPM stock:

finviz dynamic chart for  jpm

JPMorgan Chase Passes Annual Stress Test

So much for the YouTube channels pushing fear of bank failures spreading from regional banks to larger banks. Large banks including JPMorgan Chase, Wells Fargo, and Morgan Stanley said on June 30, 2023, that they plan to raise their quarterly dividends after clearing the Federal Reserve’s annual stress test.

JPMorgan plans to boost its payout to $1.05 a share from $1 a share starting in the third quarter, subject to board approval, the New York-based bank said in a statement.

“The Federal Reserve’s 2023 stress test results show that banks are resilient – even while withstanding severe shocks – and continue to serve as a pillar of strength to the financial system and broader economy,” JPMorgan CEO Jamie Dimon said in the release. “The Board’s intended dividend increase represents a sustainable and modestly higher level of capital distribution to our shareholders.”

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