Banking biggie JPMorgan Chase & Co ( JPM) has a dynamic leader in the form of Jamie Dimon but even his leadership skills and foresight have not prevented a decline in the stock price. Let's check on the stock after Dimon warned about a recession Monday and the bank gets set to report its third-quarter earnings Friday morning.
In the daily bar chart of JPM, below, we can see a consistent downtrend in the past 12 months. Prices are weak and close to making a new 52-week low -- the July low was broken a while ago. The slopes of the 50-day and the 200-day moving average lines are negative.
The daily On-Balance-Volume (OBV) line is in a year-long decline telling us that sellers are more aggressive than buyers of JPM. The Moving Average Convergence Divergence (MACD) oscillator is bearish. 
In the weekly Japanese candlestick chart of JPM, below, we see a bearish picture. Prices are in a longer-term downward phase as they trade below the negatively sloped 40-week moving average line. The candles do not show us a bottom reversal and no lower shadows.
The weekly OBV line has been weak since October 2021. The MACD oscillator is bearish too.
In this daily Point and Figure chart of JPM, below, we can see a potential downside price target of $87.
In this weekly Point and Figure chart of JPM, below, a price target of $87 is shown. The same as the daily chart above.
Bottom-line strategy: Avoid the long side of JPM for now but at some point JPM and other financial institutions will be buys, just not now.
