JPMorgan is set to report its earnings on Friday this week, indicators suggest a bearish approach. However, a positive report may lead to a bullish hike.

JP Morgan is set to release its earnings on Friday this week, from a techincal perspective its share price is currently trading at $104.87 with a support base at $103.70, which correspends with the bottom trendline of the descending trinagle. A break below the trendline may result in the company reaching its all time low since trading publicly on the market. Towards the upside, first resistance rests at $107.31 followed by a further resitance level at $109.36. A break above the $109.36 resitance level could see JPM shares face the major resitance at $112.96 (upper trendline of the triangle). MACD is currently negative and RSI reads 35, overall suggesting a bearish stance. However, a positive earnings report on Friday could lead to a bullish hike.