JPM Sell Possibility
Updated
Hello Traders!
I see a couple reversal signals for JPM, a stock which has been on a bullish run.
Signs of continued Reversal :
#1 Hidden divergence signaling the recent downtrend may continue.
#2 Price action falling below both the VWAP and 50EMa
#3 Broke a key level moving downwards. I'd like to see it retest the recently broken key level before deciding to enter.
There are a couple of reasons as to why I like this trade. My first target would be 114 with the next one being 110 after a break below another key level. There is a gap to fill which could possibly make this trade have an insane RR. Let me know what you think!
Disclaimer: I am not a financial advisor and am not offering financial advice. All charts posted are for educational purposes only.
I see a couple reversal signals for JPM, a stock which has been on a bullish run.
Signs of continued Reversal :
#1 Hidden divergence signaling the recent downtrend may continue.
#2 Price action falling below both the VWAP and 50EMa
#3 Broke a key level moving downwards. I'd like to see it retest the recently broken key level before deciding to enter.
There are a couple of reasons as to why I like this trade. My first target would be 114 with the next one being 110 after a break below another key level. There is a gap to fill which could possibly make this trade have an insane RR. Let me know what you think!
Disclaimer: I am not a financial advisor and am not offering financial advice. All charts posted are for educational purposes only.
Order cancelled
Never entered this trade.
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