JPM: Closing Half For $7The share just outside of our short/sell target, with $7 gained thus far.
Traders could look to take half off here and reduce further into the target range.
4JPM trade ideas
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).
JPM hot run slowing down?Since fall of 2020 financials sector has been one of the leading drivers behind SPY run. JPM one of top stocks in finance sector has been on a tear as well.
In Nov price finally broke multi year long resistance around $117. Typically violated resistance levels are retested and act as a support. Worth noting 200 weekly MA is getting close to that level.
Will price retrace to test $117 anytime soon? Short answers: it’s definitely possible.
Detailed answer: current trend is showing signs of slowdown and a bit of weakness:
- Week of March 15 price tested another multi year resistance line on high volume, created a doji and closed lower than opened (can be seen on candlestick chart)
- since week of Mar 15 volume has seen significant decline
- PPO has been trending lower, and created negative divergence with price action.
All this eludes to some sort of a pullback. It would have to be almost (30%) decline from current highs to reach $117. It makes sense for this to happen in the foreseeable future, considering other option being price climbing higher and then eventually taking even larger dive down to reach $117. I am watching PPO in case it reverts back to the uptrend, along with higher volumes to signal higher prices.
Rising wedge JPMorgan bank of America Showing same pattern.. this is important because bank stocks played a big part in the spy making news this year along with cyclicals as tech declined.
Resistance is at 167.90
targets are green lines
Overbought On weekly RSI
Technical Trade Setup: JP Morgan - Hitting Resistance & -Ve DivSell NYSE:JPM
Current level: $163.86
- Hitting Resistance & -Ve Divergence
- Potential channel break (Line A_B)
Trade Levels:
Sell/Short Range: $163.80-$164.60
Stop-loss: $167.80
Target Range: $152 - $154
$JPM Losing SteamJPM is losing momentum, loan books across the financial sector are decreasing (paid down with stimulus checks) and interest rate spreads are starting to contract. Momentum is diverging on both short-term and medium term lengths of time. I expect a correction here, but with any short thesis in equities you need to bail on it early if the market drags everything higher. It may revisit the trendline that it has flirted with in the past, but I would take profit early if you get a favorable move.
JPM - GREAT Buy Opportunity, IF ... !!!Hello! Friends,
-This would be a great Buy Opportunity, IF NYSE:JPM breaks up the Daily Resistance line at $156 (with a WHOLE Candle) !!
JPM trend continuationWe see a strong upside tendency with a pull back this week. A green solid bar gets over most of the correction, meaning a continuation to the up side. looking to breek the HH.
JP MORGAN SHORT POSITIONBased on the trend that the stock is leading, we can assume a fall, we confirm with the news of strong sales by investors in the United States that they are selling their shares
Traditional|JPM|Long and shortLong and short JPM
Activation of the transaction only when the blue zone is fixed/broken.
The author recommends the use of anchoring fixed the blue zone, this variation is less risky.
If there is increased volatility in the market and the price is held for more than 2-3 minutes behind the activation zone after the breakdown, then the activation of the idea occurs at the prices behind the activation zone.
Working out the support and resistance levels of the consolidation zone.
* Possible closing of a trade before reaching the take/stop zone. The author can close the deal for subjective reasons, this does not completely cancel the idea and is not a call to the same action, you can continue working out the idea according to your data, but without the support of the author.
+ ! - zone highlighted by the ellipse is a zone of increased resistance, in this area there is a possible reversal for a correction, please take this factor into account in this transaction.
The "forecast" tool is used for more noticeable display of % (for the place of the usual % scale) of the price change, I do not put the date and time of the transaction, only %.
The breakdown of the upper blue zone - long.
Breakdown of the lower blue zone - short.
Working out the stop when the price returns to the level after activation + fixing in the red zone.
Blue zones - activation zones.
Green zone - take zone.
Red zone - stop zone.
Orange arrows indicate the direction of the take.
Red arrows indicate the direction of the stop.
Priority - The value of the priority parameter implies the author's subjective opinion about the more likely activation zone on this idea, this does not mean that this idea will be 80% activated by this parameter, the purpose of the parameter is to provide for the risk of the inverse of the zone parameter.
Example: "Priority Long: So the author inclines more in the direction of the activation zone open long trades, in this case, when reaching the activation zone in short you should be very careful, because this area may be highly likely to be punched about the breakdown/do not get to take/activate transaction from go to stop."
Please consider this parameter if you use my ideas.
SUM PNL: This parameter displays the total % of all closed ideas of the "new" format (according to the author) for this sector at the time of publication of the idea. The calculation is very "clumsy" just the sum of the profits of all the ideas, based on this indicator, you can more accurately assess the risks when working with my ideas of this sector. I present you the construction of the idea, you can use it yourself as you like based on your subjective view and risks, the calculation of the PNL indicator is carried out only on transactions that the author closed on TV in manual mode or by take.
P.S Please use RM (risk management) and MM (money management) if you decide to use my ideas, there will always be unprofitable ideas, this will definitely happen, the goal of the system is that there will be more profitable ideas at a distance.
JPM Bearish back towards 155 if Breakout FailsLooks like its back trying to challenge a break out to new highs
This all depends on rates really.
I guess the anticipation is that rates are going up eventually so banks should too? Just a guess
Banks have led recently, maybe time to cool off and drift back to support
The NFP number this morning gave a hint of how JPM will react in the future to unfavorable data
Just gonna play it bearish looking for maybe a $5 pullback or so over next week or 2
If rates start getting really frisky this trade is done
If it blows through 161.5 I'll be out, might wait for that test before entering
Some sort of diagonal put spreads not sure on specific strikes yet
JPM Bearish ButterflyJPM 65min. PRZ in red box as measured from ABA 1.618 at the top of the box and the AXA 1.272 at the bottom of the box. Fibs on this chart are off the ABA.
First take profits down at green fib .382
JPMThis thing basically has a magnet at $180. 3.618 extension of the 99 high to the 08 low as well as the 1.618 extension of the Covid crash. Not a matter of if, but when imo.
JPM BULLISH TREND AFTER BREAKING RESISTANCE!BTO JPM CALL $157.50 5/7/21
JPM broke the resistance of $156.50-$156.65 looking for a $160 target in the 1H chart. Banks remain bullish for the year due to the share repurchasing program has been accepted after showing good financial stability. JPM will buy back $30 billion of its shares in 2021.
JPMorgan Chase Could Be Coming to LifeJPMorgan Chase has snoozed since its big November-February rally. But now it may be getting ready to move again.
The first pattern on the chart is the downward trendline running along the highs of March 18 and April 12. It’s breaking that resistance today.
Next are the series of candlesticks last week. Notice how prices tried to close at the low but each day snapped back to close at the high. This suggests buyers outnumber sellers. The fact it happened at the 50-day simple moving average (SMA) is potentially bullish.
Third, price action has been very dull for the last month. Just look at how Bollinger Band Width is holding the bottom of its longer-term range around 5 percent. That kind of consolidation above the December 2019 peaks could be turning into a high basing pattern with price acceptance in new record territory.
Finally, intermarket trends may favor JPM. Bond yields have consolidated as the economy recovers. Both situations favor banks and financials. Key ETFs tracking the sector like KBE and XLF are also trending higher. Once we get past Big Tech earnings, focus could return to value stocks like the banks.
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