not vested
4 Blue-Chip Bank Stocks: J.P. Morgan Chase & Co. (JPM)
Very few companies arouse as much controversy as J.P. Morgan Chase & Co. (JPM) — even amongst big bank stocks.
JPM famously made headlines in the latter half of 2013 when management announced that it was ready to pay a $13 billion fine to the U.S. government for alleged improprieties in selling mortgage-backed securities.
A year later, JPM, along with Goldman Sachs Group Inc. (GS) and Morgan Stanley (MS), were under investigation for suspected commodity markets manipulation, specifically involving aluminum spot-prices.
This of course only adds fuel to the fire that JPM is actively managing the silver market. With all this manipulating, JPM’s stock surely must be a profitable investment?
The facts say yes, actually. JPM has amassed 7.5% of market value since April with consistently strong trading sessions, yielding a probability of 60% that shares will be profitable against the current market price over the next three months.
This forecast is supported by the technical argument, which has witnessed several monthly trades that have convincingly beaten upper resistance. Additionally, JPM stock has clearly beaten the bearish implications of what looked to be a broadening wedge, which was very much in play between November of 2013 and March of 2015. This then suggests that — at the very least — JPM will consolidate at a loftier price threshold before moving higher still.
Although it doesn’t necessarily have the best moral reputation, both technical and statistical indicators point towards a continuation of bullishness for JPM stock.
Source: Investor Place