JPMorgan (JPM) NewsBite - JPM Is On the Move

Posted: Thursday, June 18, 2009 10:44 AM EDT

JPMorgan (JPM) appears to be on the move today and is now at $33.75, up $1.02 (3.12%) on volume of 8,898,648 shares traded. Over the last 52 weeks the stock has ranged from a low of $14.96 to a high of $50.63. JPM was covered in a Lee Allen report today. To read the report, and find out what you may be forgetting when you evaluate a stock, go to www.marketintelligencecenter.com/la061809 . JPMorgan stock has been showing support around $31.47 and resistance in the $34.15 range. Technical indicators for the stock are neutral and S&P gives JPM a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on JPM the stock seems like it could be a candidate for a July out-of-the-money bull-put credit spread below the 30 range. [ABR-Seven Summits Strategic Investments NewsBite]

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