JP Morgan shares gain for a second straight session on Friday, bank takes minority stake in Mosaic Smart Data

JP Morgan Chase was reported to have taken a minority stake in start-up company Mosaic Smart Data, based in London. However, the financial terms of the agreement remained undisclosed, Reuters reported.

JP Morgan Chase shares closed higher for a second consecutive trading session on Friday. The stock edged up 0.17% ($0.20) to $115.44, after touching an intraday high at $116.60, or a price level not seen since March 13th ($118.47).

In the week ended on March 18th the shares of the banking group lost 2.20% of their market value compared to a week ago, which marked the second drop out of five weeks.

Due to the recent streak of gains, the stock has pared its loss to 0.05% so far during the current month, following a 0.15% drop in February. The latter has been the first monthly retreat since August 2017.

For the entire past year, the shares of the NYSE-listed financial holding company rose 23.93% following another 30.68% surge in 2016.

Mosaic Smart Data develops technology that enables accumulation and analysis of data coming from banks’ fixed-income trading divisions. Such a technology allows financial institutions to make more informed decisions as well as to have more deals secured.

Through data visualization, Mosaic’s platform could be used by traders to determine which customers may have interest in a particular deal. Bank executives, on the other hand, could use the platform to determine which trading desk has been showing better results.

According to Reuters, citing a person with knowledge of the agreement, the funding is to be utilized by the start-up company to increase its staff as well as to expand its platform so that additional asset classes for new and existing customers are encompassed.

According to CNN Money, the 28 analysts, offering 12-month forecasts regarding JP Morgan Chase & Co’s stock price, have a median target of $120.00, with a high estimate of $135.00 and a low estimate of $65.00. The median estimate is a 3.95% surge compared to the closing price of $115.44 on March 16th.

The same media also reported that 14 out of 31 surveyed investment analysts had rated JP Morgan Chase & Co’s stock as “Hold”, while 11 – as “Buy”. On the other hand, 2 analysts had recommended selling the stock.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, todays levels of importance for the JP Morgan Chase stock are presented as follows:

R1 – $115.56
R2 – $115.67
R3 (Range Resistance – Sell) – $115.79
R4 (Long Breakout) – $116.13
R5 (Breakout Target 1) – $116.54
R6 (Breakout Target 2) – $116.70

S1 – $115.32
S2 – $115.21
S3 (Range Support – Buy) – $115.09
S4 (Short Breakout) – $114.75
S5 (Breakout Target 1) – $114.34
S6 (Breakout Target 2) – $114.18

By using the traditional method of calculation, the weekly levels of importance for JP Morgan Chase & Co (JPM) are presented as follows:

Central Pivot Point – $116.26
R1 – $117.93
R2 – $120.41
R3 – $122.08
R4 – $123.74

S1 – $113.78
S2 – $112.11
S3 – $109.63
S4 – $107.14