Shares in JP Morgan Chase and Co (symbol ‘JPM’) had a rather aggressive bullish rally in the first quarter of 2024 and managed to gain around 17% in value. JPM is expected to release its earnings report for the quarter ending March 2024 on Friday 12 April, before the market opens. The consensus estimate for earnings per share is $4.22 compared to the result for the same quarter last year of $4.10.
‘ In four out of the last five quarters, the company is recording higher net income, and its expected to continue to do so given the aggressive bullish momentum in the first quarter of the year. On the other hand, as of 31/12/2023, the current ratio is at 91% indicating that any short-term turmoil could potentially have a significant impact on the operations of the company. From a dividend perspective, the yield is currently at 2.15% which is rather positive from the shareholders' viewpoint making the share of the company somewhat more attractive.
On the technical side, the price has been trading in a steady bullish momentum for the majority of the first quarter and also reached a new all time high level of $199.13 on March 28, 2024. The Stochastic oscillator is near the extreme overbought level while the price is trading above all technical indicators potentially indicating a correction in the following sessions leading up to the earnings release. On the other hand, the 50-day moving average is trading well above the slower 100-day moving average validating the overall bullish trend in the market.
‘ In four out of the last five quarters, the company is recording higher net income, and its expected to continue to do so given the aggressive bullish momentum in the first quarter of the year. On the other hand, as of 31/12/2023, the current ratio is at 91% indicating that any short-term turmoil could potentially have a significant impact on the operations of the company. From a dividend perspective, the yield is currently at 2.15% which is rather positive from the shareholders' viewpoint making the share of the company somewhat more attractive.
On the technical side, the price has been trading in a steady bullish momentum for the majority of the first quarter and also reached a new all time high level of $199.13 on March 28, 2024. The Stochastic oscillator is near the extreme overbought level while the price is trading above all technical indicators potentially indicating a correction in the following sessions leading up to the earnings release. On the other hand, the 50-day moving average is trading well above the slower 100-day moving average validating the overall bullish trend in the market.