JP Morgan share price Q1 2022 results preview
What to expect and how to trade JP Morgan’s upcoming results.
When are the JP Morgan results expected?
JP Morgan is set to release quarter one (Q1) 2022 results on 13 April 2022.
What is ‘The Street's’ expectations for the Q1 2022 results?
‘The Street's’ expectations for the upcoming results are as follows:
- Revenue of $30.972 billion, -6.48% year-on-year (YoY)
- Earnings per share (EPS) $2.68, -41.6% YoY
How to trade JP Morgan into the results
Refinitive data shows a consensus analyst rating of ‘hold’ for JP Morgan, although the long-term price target of $167.44 suggests the share to be currently trading at a discount of 28% to this level (as of 8 April 2022).
IG sentiment data shows that 94% of clients with open positions on the share (as of 8 April 2022) expect the price to rise over the near term, while 6% of these clients expect the price to fall.
JP Morgan – Technical view
The long-term price trend for JP Morgan remains down as the price trades firmly below the 200-day simple moving average (SMA).
In the short term the price is rangebound in nature trading between levels $128.00 and $142.15.
The long-term down trend suggests keeping a short bias to trades on the company, although the oversold signal near support suggests that we could see a price rebound in the short term.
To reestablish a long bias to trades we would like to see the short-term rebound (should it manifest) take the price back above range resistance at $142.15. Failure to break this resistance level would see traders considering new short positions on a bearish price reversal before this level. Alternatively short entry could be considered on a break (confirmed with a close) below the $128.00 support level. In this scenario, $113.00 would become a further downside target from the move.
In summary
- JP Morgan Chase and Co. is set to release Q1 2022 results on 13 April 2022
- Q1 2022 are expected to show a YoY decline in both revenue and earnings per share
- Long-term broker consensus suggests the share to currently be a ‘hold’, with a longer-term price target of $167.44
- IG clients with open positions on the share are predominantly long
- The long-term price trend for JP Morgan remains down, although in the short term the price is rangebound in nature with an oversold signal prompting a near-term rebound
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
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