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JP MORGAN PROFIT BEATS ESTIMATES, STOCK SPIKES - Capital Street FX

14-Jan
19:40 IST

In the Premarket trading session, JP Morgan’s stock was trading at 138.50- higher by 0.95% as compared to the previous closing price.

The bank today reported a better-than-expected fourth quarter profit and revenue that topped market expectations. The bond trading revenue is up by 86% compared to last quarter. JP Morgan generated an EPS of $2.57 for the fourth quarter of 2019. The EPS was above the consensus estimates of $2.35. The bank brought in $29.2 billion in revenue for the fourth quarter. The revenue was above the consensus estimates of $27.94 billion.

JP Morgan’s CEO Jamie Dimon said that the company managed to produced better-than-expected revenue in the fourth quarter due to surge in the bond trading revenue. The profit for the fourth quarter rose by 21% to 8.52 billion. However net yield on interest-earnings was impacted by lower interest rates.

The stock made a 52-week high of $141.1 and a 52-week low of 98.09. the net change for year 2019 is 37.32%

On the technical front, the current price is above the MA5 and MA20. The current price is above the middle line of the Bollinger Bands and is heading upwards. On the candlestick pattern the stock formed a bullish engulfing pattern in the previous trading session.

Overall Bias is Positive, and short-term trades can be initiated with below mentioned Stop Loss and Profit targets.

 

TRADE SUGGESTION- LIMIT BUY AT 138.50 TAKE PROFIT AT 139.10 STOP LOSS AT 138.20

 

 

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16-Jul
22:08 IST

JP Morgan Chase is currently trading at 114.45-higher by 0.51% as compared to the previous closing price. In the Premarket trading session, the stock was trading lower by 0.53%. The stock has pared all of its earlier losses and turned positive after the opening bell.

The bank today reported a record quarterly profit and revenue that topped market expectations due to income tax benefits. JP Morgan generated an EPS of $2.82 for the second quarter of 2019. The EPS was above the consensus estimates of $2.51. The bank brought in $29.57 billion in revenue for the second quarter. The revenue was above the consensus estimates of $28.84 billion.

JP Morgan, however, slashed its forecast for 2019 net interest income by $500 million to $57.5 billion. Previously, the bank expected $58 billion 2019 net interest income in the first quarter’s earnings call. Shares of J.P. Morgan Chase have risen 17% so far this year.

On the technical front, the current price is above the MA5. The current price is above the middle line of the Bollinger Bands and is heading upwards. The RSI is currently at 60.17% and suggests that the market can move in the upward direction.

 

TRADE SUGGESTION- LIMIT BUY AT 114.25 TAKE PROFIT AT 115.30 STOP LOSS AT 113.75

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