Management continues its European expansion and last week outlined an approximate timeline for entering the EU retail banking market, a plan in preparation for more than two years. The company confirmed that its first branch will open in Germany during the second half of next year. Despite the country’s highly competitive and saturated banking sector, JPMorgan Chase expects to leverage its strong reputation and existing European client base to secure market share. The bank will be headquartered in Berlin, starting with savings accounts before gradually expanding into additional products.

For Q3, with results due in mid-October, JPMorgan Chase is expected to report $44.45 billion in revenue, down from $44.91 billion in the previous quarter but above the $42.65 billion posted a year earlier. Earnings per share (EPS) are projected at $4.66, compared with $4.96 in the last quarter and $4.37 a year ago.

The most recent dividend payout was on July 31, with shareholders receiving $1.40 per share, equal to a quarterly yield of 1.92%. This was the second round of payments after the latest adjustment. Still, the yield remains below the sector’s median of 3.35%.

Support and Resistance Levels

On the daily chart, JPMorgan stock trades above the support line of an ascending channel between 330.00–290.00.

  • Support levels: 289.00, 274.00

  • Resistance levels: 300.00, 318.00

Technical indicators hold a buy signal: EMA ranges on the Alligator indicator remain upward, fast moving averages are above the signal line, and the AO histogram is in the buy zone with corrective bars.

Trading Scenarios

  • Long positions may be opened if the price consolidates above the local high at 300.00, with a target at 318.00 and stop-loss at 290.00 (horizon: 7+ days).

  • Short positions become relevant if the price drops below the local low at 289.00, with a target at 274.00 and stop-loss at 300.00.

JPMorgan Chase & Co.

Scenario

  • Timeframe: Weekly

  • Recommendation: BUY STOP

  • Entry point: 300.05

  • Take Profit: 318.00

  • Stop Loss: 290.00

  • Key levels: 274.00, 289.00, 300.00, 318.00

Alternative Scenario

  • Recommendation: SELL STOP

  • Entry point: 288.95

  • Take Profit: 274.00

  • Stop Loss: 300.00

  • Key levels: 274.00, 289.00, 300.00, 318.00