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JPM Weekly Trend: Short-Term Rebound or Prolonged Downtrend Ahead?

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  The weekly trend of JPM has been in the Bearish zone for the past 7 weeks. After entering the Bearish zone, a downtrend ensued, but in the past few weeks, the selling pressure weakened, showing fluctuations. Starting last week, the trend shifted to an uptrend, indicating a rising direction for the second consecutive week. This upward trend is expected to continue until next week. However, from two weeks onwards, the buying momentum is anticipated to weaken, leading to a reversal back into the downtrend. Although there might be a temporary entry into the Bullish zone, it is unlikely to sustain. Considering the 74% similarity with the US market, JPM's weekly trend is expected to have a short-lived uptrend, especially given the likelihood of the US market entering a downtrend next week. Overall, it is advisable to consider this as a short-term rebound peak. If the uptrend reverses, a prolonged downtrend is expected to follow. Oct 09, 2023 ◆ Closed price 148.00 2.00%     ◆ Appropriat

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