JPM trade ideas
Financials are firmly in charge right now!December is full of the swing as we push toward the end of 2019. For now, bulls seem to be continued, the market got hit hard in earlier this week but bounced back into the edge of their expected moves referenced from options chain. So the question at this point is neither the trade war or other economic mixed quotes nor if you should being bullish/bearish right now, it's about understanding the risk that persists on the stake as the market keeps buying it.
Financials, the fundamental of all broader markets are just hanging there and driving more and more order flows into the market, and the bonds which drive the financials are heading on a slight downtrend right now.
Strong stocks getting stronger for a couple of reasons. First, they rely on sector strength. Those sectors in lead with those stocks making new highs usually give us a sense of market participation, which is preparing us the opportunities to buy.
On Thursday session, among those money center bank stocks, 14 out of 24 post gains according to Finviz stocks screen tools. So I picked JPM for the pitch which just broke out of a rising trend line, the bull trades with few gaps up in the most recent trading session demonstrated some bull flags and that seems an opportunity to buy for now.
But keep in mind, on the other aspects, financials along with the SPY are a little bit shy of their All-Time highs which means they are also in a danger zone. Since the three major indexes are on the lower edge of their expected move, if there is a trip to go a further down then they will go down widly. So traders must prepare for a much more substantial down that could occur when the volatility has not necessarily subsided.
ANALYSIS OF JP MORGAN 20.11.2019The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero lines.
The oscillator Force Index is above the zero lines.
If the level of resistance is broken, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 131.10
• Take Profit Level: 132.50 (140 pips)
If the price rebound from resistance level, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 130.00
• Take Profit Level: 129.50 (50 pips)
USDJPY
A possible short position in the breakdown of the level 108.30
GOLD
A possible long position at the breakout of the level 1479.00
USDCHF
A possible long position at the breakout of the level 0.9920
GBPUSD
A possible long position at the breakout of the level 1.2990
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JPM - Swing Trade IdeaSHORT - JPM
SL: 132.04 (Suggested by our algorithmic system)
TP: 125.11 (Suggested by our algorithmic system)
Reasons behind this idea:
1. Indicators suggest this stock is oversold
2. MACD indicator starting to show weakness with momentum
Note: Trendlines are drawn from multiple timeframes
---------- Chart Drawings ----------
Red Dotted Line: Broken Resistance Trendline
Blue Solid Line: Support Trendline
Red Solid Line: Resistance Trendline
Purple Vertical Line: Suggested Stoploss by our algorithmic systems (under testing)
Green Vertical Line: Suggested Take Profit
Trade idea from our mobile app:
ibb.co
(Timestamp is in Australian Sydney Time UTC+7)
Please trade responsibly and good luck!
JPM Rubberband SnapbackJPM is highly overbought in the high 90's of the stochastics. It recently closed out the week with a red candlestick showing weakness in the uptrend. A harmanic doji has formed on the weekly chart signaling potential bearish movement. Looking for it to retrace to prior breakout level, now support at the $120 level