JPMorgan Chase & Co

JPM remains in a Stage 2 advancing uptrend with strong higher-highs and higher-lows, but a recent peak has given way to a controlled pullback into the rising 9/21 EMA zone in an overbought context. The medium-term bias stays bullish, supported by volume expansion on advances and price above the rising 50 DMA. Short-term execution requires confirmation of support at the EMAs before engaging, aligning with the Growth at Reasonable Price discipline.

• ↑Q1 net income $16.5B, EPS $5.94, revenue +10% YoY to $49.4B
• ↑Investment banking fees +28% YoY support strong deal pipeline
• ↓Basel III G-SIB surcharges to raise capital costs by ~$20B