JPMorgan Chase Collapses: Technical Support Revealed

JPMorgan Chase fell sharply on earnings. The stock collapsed 6.5% after Jamie Dimon said interest income would not be as good as expected. He also gave cautionary statements on geopolitical risk and economic risk.

Looking to the chart, the first major support is $176. This level is both a pivot point boing back to January 2024 highs as well as the Fibonacci .382 level. The confluence of levels tells traders and investors there is a higher probability of a bounce at that level.