JPM
$JPM Long to 195I see JPM as having the most upside out of BAC GS MS, with the stock buybacks and earnings report.
XLF shooting star top of channel $BAC $WFC $CIT $JPM $XLFtop of channel / ABC or WXY complete from march lows after triangle breakout in late oct/early november. shooting star weekly. please post and correct me but zooming out i think its 5-3-5 ABC for W (2009 low to jan 2018) into an X wave and now completed X within WXY of the X macro..startin Y down to finish macro X.
August 20 $23P on $BAC for me but this thing might take longer than I expect considering W (within macro X of WXY from 09 low) went from jan 2018 - march 2020
Finance sector industry getting momentum!Stocks usually moves in clusters, and it is obvious that finance sector becomes hot since last week.
If you check the last week performance of the companies over 100 Billion market cap, soon you will notice 5 out of the first 10 best performance belongs to Finance sector. Interestingly, Wells Fargo ( check my WFC analysis published on Feb 16th) was the best performer and the only one with double digit return in a week among 88 companies with over 100 billion market cap..!
This types of analysis and results can help you differentiate a true analyst from crooked pumpers..!
Moshkelgosha
JPM (DJI) - Reach near targetHumbled, we would like to thanks for your support who has already liked, commented and followed us.
Your support, strengthens us, to help in analyzing the market.
JPM (DJI) - Reach near target
The Behavioral Selling that Could Occur with JPMThe extreme space between support and resistance levels could trigger a behavioral risk with this equity. The impact that these big financials carry for the market and their importance for the overall security of the markets is critical right now. The extreme gaps of support and resistance leaves one to question, "Where can I safely enter?"
There isn't much under the chart. The magnitude of the drop could be devastating and go beyond fundamental reasoning...
XLF breaking out?Once XLF closes above trend line on weekly chart and opens Monday 2/15/21 higher than Friday's 2/12/21 close I am expecting a breakout. I will be buying September out of the money options around $34. Right now they are $1.20. It could possibly 3x in relativity short period of time. If it is rejected at trend line it could be a triple top and get slapped down pretty hard. I am leaning towards a breakout. I am not a financial advisor. Do your own DD.
JPM short trade updated chartHere is the updated chart on JPM short trade I have posted on January, 12th. Brief pop above the resistance level to clear out any shorts. Turning around and dropping down below which proves to be a bull trap. From there, pretty steady down trend day after day. Today, hitting the first target. 10.5% down from the high. Next target is $117.20ish level and reaction is likely once it gets there. I expect a gap down tomorrow and hitting that second target pretty quick given the current market posture. Around $104.50 seems like a good support and that seems like a pretty good swing target and which will be around 26% from the high. How bullish the overall sentiment is, I can see very quick rush to the exit once it turns.
Have a good trade everyone,
T.
The fall may continueOn the 1 hour timeframe, the flag trend continuation model is formed. If the lower border of the pattern and the resistance level is 85-87$ are broken, I expect a fall. Conservatively, you can enter the short from breaking the lower border of the flag.
Potential short set up for JPMThis is a potential set up and not yet actionable unless you want to take an aggressive starting position. JPM has finally up to pre COVID price level. The run up recently has been too fast too sharp in my opinion. RSI is extreme over bought reading. Any marginal high will extend the PPO divergent high. Be careful trading this since the earning is coming up on this Friday before the bell. I can see rejection here or making a marginal new high and fade. That would be a bull trap and down move may be pretty swift. Down side target for me is the yellow trend line from COVID March low or the top of the gap at $112.55.
Top Stock Picks - Trade Idea JPMShort-Selling Idea for JP Morgan after tomorrow's earnings report.
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Regards,
Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc.
RISK DISCLAIMER
Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in Forex you should consider your knowledge, investment objectives, and your risk appetite. Only trade/invest with funds you can afford to lose.
JPMORGAN ready to give a 15% bullish movementToday we will share a bullish analysis of JPM, explaining the major zones and the potential movements we can expect
Relevant items:
-The key area to pay attention to is the Resistance zone. We can see in the past what happened after the price broke it. We had an 18% bullish movement
-It's important to pay attention to the corrective structure formed on the edge of the resistance zone. Now we have the same situation at the same level
-The target we are choosing is a Double top pattern with the All-time high zone.
-We will define the RISK-FREE level at 130.5. This means that if the price reaches that zone, you should have your stop loss moved at the entry-level.
-Based on past behavior, this movement can take around 70 days.
HEY BACThe potential growth of NYSE:BAC is about 23% and the target price of JPMorgan is above 37$ per share
BAC run-up till ER NYSE:BAC
With vaccine news, banks are expected to have less money put aside to cover default-risk-related assets, that is the recent run up.
Also the fed Rate has "quietly" go up and US 10Y also run up which cause this bank bull run.
so Bull side: more vaccine/news rally this can go to test 30.4 level , which could be a strong resistance.
Bear side: considering 2H,4H MACD strength as declined although price has pushed higher, this indicate upside strength losing.
Overall : current price indicate bull side, unless 27.8 area breaks ( we also have 20MA below) we can hold and using covered calls at 31 level to lower position cost.
Patience is the key.
The chart doesn't lie, Bullish Flag breakout for JPM? JPM is noticeably breaking the downward blue sloping resistance of a possible bullish flag, notice on the RSI we have already seen a breakout of the pattern and a re-test of old resistance turning into new support, very bullish.
Not a big fan of JP Morgan, only for bashing Bitcoin, other than that, they have the FED in their back pocket, DON'T FIGHT THE FED, FFS!
Or, did the FED bypass banks with a digital USD?
Time will tell, but the chart is bullish, stonks only go up!
JPMorgan: Good report, indicators say the opposite.Despite the excellent earnings report released yesterday that showed the company hit the forecasts, our indicators, based on technical analysis only tell us that the stock in its the way down.
According to the MACD, we should see a sharp drop by the end of the week also, the RSI doesn't say differently.
The bottom line is the same: For the long run JPMorgan is certainly a-must stock in every portfolio but, it can be a bad entry point.
Trade safe
JPM Pennant Pattern$JPM returned from its descending resistance. Resistance should be confirmed in following weeks. Overall perspective reflects a pennant pattern. If it breaks ascending support line, next target can be 35.5. Next support test can be in a month.
