JP MORGAN UP AFTER REPORTS OF LEADING LYFT IPO
JP Morgan is currently trading at 116.78-higher by 0.40% compared to the previous closing. Earlier today before the market opens the stock was trading higher by about 0.30%. However, the stock has been closing in the red since the last three trading sessions.
In recent news, according to market sources JP Morgan is in talks with Lyft about leading its upcoming initial public offering as an underwriter. Lyft IPO is expected to come sometime in the next year.
In other news, JP Morgan said on Wednesday that it is backing the internal group as a full-time director and also provide $10 billion of loans to women-owned businesses. The bank is expanding the reach and funding of the group established to promote women working inside the bank and also help female clients.
On the technical front, the RSI is currently at 56.79% and suggests that the market can move in the upward direction. The Current Price is above the middle line of the Bollinger bands and is heading upwards. The Current price is above the MA20.
Overall Bias is Positive and short-term trades can be initiated with tight Stop Loss and Profit targets.
TRADE SUGGESTION-LIMIT BUY AT 116.50 TAKE PROFIT AT 117.20 STOP LOSS AT 116.15