JPMorgan Chase will report earnings next week, with the stock currently testing a critical technical support line dating back to its 2022 low. The stock is trading roughly 10% below its 52-week high, marking one of its largest pullbacks in recent years. Historically, buying JPMorgan after a 10% decline has proven more rewarding than selling into weakness, with each test of this support level resulting in a significant rebound. JPM is the second-largest holding in the Financial Select Sector SPDR Fund (XLF) after Berkshire Hathaway, and a successful rebound from this support line could provide an important boost to the broader financial sector.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
