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Jpmorgantrading

JPM: Overbought on 1M. Buying becomes risky now.JP Morgan is almost overbought on its 1M technical outlook (RSI = 69.452, MACD = 20.800, ADX = 54.049), trading very close to the top of the 12 year Channel Up. Being overbought on the wider/ longest timeframe available, indicates trend exhastion and a potential bearish reversal. Basically, we continue to use the same pattern that helped us get a strong buy last time and this time it shows that the last two times the 1M RSI was this overbought, the stock pulled back to at least the 0.236 Fibonacci level. Consequently we expect a lengthy but relatively controlled correction to start in the coming candles to test the 0.236 Fib and approach the 1M MA50 (TP = 187.00). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NYSE:JPMShort
by InvestingScope
JP MORGAN: Expect bullish continuation $225.JP Morgan may be almost overbought on its 1M technical outlook (RSI = 69.738, MACD = 14.790, ADX = 37.379) but as you can see on this chart, this is when the stock tends to make a bullish extension instead of a correction. Especially since the 12 year pattern is a Channel Up and is currently on its fourth Bullish Wave of the structure. All prior bullish sequences have been over +124%, so we have a similar extension target (TP = 225.00) before any medium term correction takes place. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NYSE:JPMLong
by InvestingScope
JP MORGAN: Can extend this rise to the top of the Channel UpJPM may be overbought on the 1D technical outlook (RSI = 82.199, MACD = 3.72, ADX = 70.645) but is extending the bullish leg of the 14 month Channel Up. It sits comfortably over its middle and calls for an extension. We will enter on the closing of the first red 1D candle and target the 1.618 Fibonacci extension (TP = 174.00), which was the December 1st 2022 HH. See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NYSE:JPMLong
by InvestingScope
JP MORGAN This rally has more room to growJP Morgan is trading inside a Channel Up on a strong 1D technical timeframe (RSI = 68.279, MACD = 2.320, ADX = 18.509). Supported by the 1D MA50, this bullish leg can potentially rally more. If it repeats the rise of the previous, it can hit both R1 and R2 but since R1 is neatly located at the top of the Channel Up, we will buy and pursue this as target (TP = 156.00). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NYSE:JPMLong
by InvestingScope
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