JPMorgan stock price is slightly lower since the pullback on the record high of 141.00 on January 2. In the very short-term, the market could maintain the downside correction if the RSI keeps sloping down and the MACD continues to lose momentum below its trigger line. Currently, the stock price is hovering within the red Tenkan-sen and the blue Kijun-sen lines.
An extension to the downside and below the blue Kijun-sen line could meet the area between the 50-day simple moving average (SMA), the 133.00 support level and the 23.6% Fibonacci retracement level of the upleg from 104.30 to 141.00 around 132.28.
On the other side, a successful break above the red Tenkan-sen line could bring the bullish sentiment back into play towards the all-time high of 141.00. More gains could lead the price until the next psychological levels of 142.00 and 143.00.
To sum up, the market is expected to hold slightly negative in the very short-term and positive in the medium-term.
