JPMorgan is due to report earnings on Friday. It is expected to report an EPS of $3.41 on revenue of $36.13bn. Share price currently sits around $128.49.

From a technical perspective, JPMorgan’s share price is currently trading at around $128.49 a share. Applying the Fibonacci retracement to the chart, we can see that the price of the stock has found a based at $123.11. At the end of March the $128.14 resistance (23.6% fib) was broken and the $131.26 resistance (38.2% fib) was tested, but held out. Since then, the price has dipped below the initial resistance at the 23.6% fib, which is now also acting as support. However, it seems like it’s trying to consolidate, with the possibility of staying in this price gap between the 23.6% and 38.2% fib. Of course, this is prior to the release of its earnings due on Friday. The earnings will provide more insight into the direction in the near term. Investors may want to consider the recent turmoil in the banking sector, as it will also have a huge influence on the volatility once the earnings have been posted. If resistance at the 38.2% fib is broken, we then would be looking at levels of $133.77 ( 50%) and $136.29 (61.8% fib). Towards the downside, support remains at $128.14 (23.6% fib) followed by a major sitting at $123.11. A break below $123.11 may see the price fall as low as $115. Looking at the indicators, MACD is neutral and so is RSI as it reads 49.