Jay Woods, Chief Market Strategist at Freedom Capital Markets, revisits JPMorgan Chase, a stock he personally owns, noting its recent performance and potential for growth. The stock remains in a long-term uptrend and is currently consolidating above its key Average Volume Weighted Average Price (AVWAP) level from the 2026 lows.
Indicators such as a bullish MACD crossover and a bullish RSI divergence at recent lows suggest a positive outlook. Woods emphasizes that the stock has shown better resilience than its peers and is positioned to lead a seasonal upward trend. He identifies $325 as a critical support level, with a potential bounce back towards $360.
However, he advises caution, recommending an exit if the price falls below $310, with the next support level at $280. Overall, Woods believes the upside potential outweighs the downside risk, reinforcing the importance of trend-following in trading strategies