JP Morgan Chase (JPM) Elliott Wave Analysis: Bullish Trend Set to Continue

JP Morgan Chase (JPM) Elliott Wave Analysis: Bullish Structure Remains Intact with Key Support at $215 and Upside Targets Toward $350–$395 into 2025

JP Morgan Chase & Co. (NYSE: JPM) continues to show a strong bullish structure, as reflected in the latest Elliott Wave analysis. The monthly chart indicates that JPM is trending higher within a larger impulsive sequence, with the right side firmly pointing up, suggesting further upside potential in the coming years.

Elliott Wave Structure and Current Position:

JP Morgan Chase & Co. (NYSE: JPM) maintains a strong bullish structure based on Elliott Wave analysis. The monthly chart shows that the 2009 low near $14.90 completed wave (II) at the blue degree. This marked the end of a major correction and started a long-term impulsive cycle at the larger red degree. Since then, the stock has progressed through red waves I, II, and III, with the peak of red III aligning with the completion of a five-wave rally at the double-parentheses degree ((1)) to ((5)), supported by an internal blue (5).

After completing red III, JPM entered a corrective phase. The decline unfolded into ((A)), ((B)), and ((C)) at the double-parentheses degree, forming red wave IV. This correction ended in 2022, setting the stage for a fresh bullish cycle. Since then, the stock has advanced strongly, unfolding at the double-parentheses degree through ((1)) and ((2)). Currently, JPM trades within ((3)), where blue-degree waves (1), (2), (3), and (4) are complete, while blue (5) pushes prices higher.

Once blue (5) and double-parentheses ((3)) finish, the market may pull back in ((4)) before beginning the final rally in ((5)). That last advance should complete the overall impulsive sequence within the larger red uptrend.

Trading Strategy and Right Side:

The right-side tag remains bullish, so traders should align with the upward trend. Pullbacks into blue box areas present buying opportunities, while counter-trend selling is not advised. As long as the price stays above the $215 support zone, the dominant bullish structure remains valid. The upside targets stand between $350 and $395 in the coming years. With a clear Elliott Wave roadmap and strong momentum, JPM continues to offer long-term growth potential.

Source: https://elliottwave-forecast.c...