Things Looking Up for JPM this Summer?Based on historical movement, the trough could occur anywhere in the larger red box. The final targets are in the green boxes. The pending top should occur within the larger green box as has been the historical case. Half of all movement has ended in the smaller green box. In this instance, the signal indicated BUY on June 11, 2021 with a closing price of 159.92 on the hourly chart.
If this instance is successful, that means the stock should rise to at least 161.6855 which is the bottom of the larger green box. Three-quarters of all successful signals have the stock rise 2% from the signal closing price. This percentage is the bottom of the smaller green box. Half of all successful signals have the stock rise 3.7815% which is the end point of the black dotted arrow. One-quarter of all successful signals have the stock rise 5.577% from the signal closing price which is the top of the smaller green box. The maximum rise on record would see a move to the top of the larger green box. These are the same concepts for the levels in the red boxes as well.
The ends/vertical sides of the boxes are determined in a similar fashion. The peak of the rise can occur as soon as the next trading bar after signal close, while the max rise occurs within the limit of study at 50 trading bars after the signal. A 0.4% rise must occur over the next 50 trading bars in order to be considered a success. Three-quarters of successful movement occur after at least 23.5 trading bars; half occur within 36.5 trading bars, and one-quarter require at least 44.5 trading bars.
The black dotted arrow represents median historical movement. Medians are a good metric, but they are just one of many I use when forecasting future movement.
As always, the stock could decline the very next bar after the signal without looking back (therefore the red boxes would not come into play) or the stock may never decline (and the green boxes may never come into play).
Jpmorganchase
$JPM Before earningsJPM is looking at a retest of that 160 target I had a few days ago. As expected, algos took profits and it put in a bearish candle at the top. It seems like JPM has been trading inside a very range for a while, and if earnings posted are good, it should break higher, looking at 160 calls that should be paying nicely on this swing. All indicators show a bullish trend to the upside, especially the Stoch RSI. There is a slight bearish divergence on the Ichimoku indicator that is showing near term bearishness. I like this setup to retest the highs at or after ER.
$JPM Ready to test highs againAlgos have this pinned right at that conversion line and 8 Daily EMA. Flirting with overbought RSI, it has made a steady climb up to higher highs. I've set 160 as a psychological level to break, but the way it has been moving, it could move much higher. $XLF looks strong as well, indication higher highs for the entire financial sector. Targets should be short term, ready for a quick drawback if it fails to break out of these levels.
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.
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.
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_Base of Wave Three has arrived. BULL MARKET LIVES!There are a lot of different models for this, and It's hard to determine, but some of the models I have seen have the first wave forming at the first high after the covid sell-off (96.55), but I consider that cluster part of market chaos/confusion and consolidation and therefore part of the formation of wave 1, wave 1 saw the highs of 115, initially I believed, the pullback of wave two was ending at the end of July/Beg. Of Sept---but now I think it extended lower in what seemed a long and torturous wave…but! Just over the last 1-2 days the base has started to form and we are beginning wave 3, which will likely back shortly 115 (earnings?), then a wave 4 pullback will be swift and decisive (opposite of wave 2—as per the typical convention of these waves) after which JPM will progress upwards towards a level that will surpass their ATH…which, could even come sooner than later...Post election might see an end of short wave 4 pullback and final wave 5 going into the new year.
Regardless of the exact trajectory the waves take, I do believe Banking is showing signs of rotation---not necessarily reflective in a price extension at current, but by the signals that other sectors are taking a breather, and the banks are slowly creeping out of consolidation and in an upward leaning trend.
Possible Head & Shoulders for JPM?JP Morgan is under pressure, and rightfully so, considering they've been caught with their hand in the cookie jar, once again, ahhhh the blasphemy!
I always find it ironic when the same banks calling Bitcoin a fraud get caught for fraud or money laundering, it strengthens the argument for Bitcoin every single time.
Possible H&S breakdown, bearish cross on the KST. I zoomed in on the KST so the bearish cross is noticeable, but if you zoom out there's a noticeable H&S pattern.
Descending Triangle on the RSI, similar to the blue pattern in the price action, potentially double bearish confirmation.
The FED is busy saving the DXY & trying to prevent the USD from losing world reserve currency status, so maybe they'll let assets decline until elections are over, who really knows? But if the USD collapses I don't imagine all assets prices will increase, it could get fugly.
JP Morgan $JPM$JPM is still in bearish channel even though it is just above the 50SMA which is good sign for future trend. I would expect to hold above $115 before get in.
12 months Consensus Price Target: $111.99
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Thx
JPM Heavily Oversold on the 1H, Breaking Fibonacci Levels $JPM The hourly chart on JPM suggests heavily oversold conditions. The price recently crossed the lower Bollinger band (with Standard Deviation set at 2.5), and RSI(14) is below 30 (closer to 25). Moreover, the price has retraced and broke through the 0.5 Fibonacci line around 99. Next Fibonacci support level is at 95. I already bought at the 0.5 level (at 99). If you also bought I recommend hold, but if you did not buy watch price action in the coming days, a nice entry level might be closer to 95.