Analysts at Zacks Investment Research downgraded shares of JPMorgan Chase & Co. (NYSE: JPM) from Hold to Sell in a research note to investors today. With a rating of Sell on the shares, the company has a 52-week high of $69.03. A number of other analysts have spoken on the stock recently, and the company has secured a consensus one-year price target of $70.56, above the opening price of $66.75, a difference of 10.62 percent. Downgrades occur when analysts feel that the future prospects for the security have weakened from the initial recommendation, often caused by an important and fundamental digression in the company’s actions, future direction or industry.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Shares of JPMorgan Chase & Co. (NYSE: JPM) opened at $66.75 yesterday and traded in a range between, $66.24 and $66.85, and last traded at $66.46, which is an increase of $0.27 compared to the previous closing price.
JPMorgan Chase & Co. (NYSE: JPM) currently has a market cap of 240.02B.
10,092,157 shares traded hands yesterday, 7 percent lower than normal, out of a total float 3,593,307,000. Swing traders often use upticks in trading volume to determine heavy volume growth or dissemination by institutional investors, so trading volume is likely to increase in the next few days.
However, just a day of high volume buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as an indicator that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have teams of analysts that research thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
Trades for JPMorgan Chase & Co. (NYSE: JPM) have ranged from $52.50 – 69.03, and the stock now has a 50-day MA of $66.18 and 200-day MA of $63.10. Today’s last price is 0.04% under the 52 week high of $69.03.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors look for companies that have raised their earnings at least 25% or more over 3 consecutive years.
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