JPM bounced of support trendlinebounced of support trendline, expecting a higher low which will be our entry, target $334
4JPM trade ideas
JPM: Time for a correction - Bears may take control of pricesJPM: Time for a correction - Bears may take control of prices
From our previous analysis posted on 07-Jun-2024, JP Morgan completed the harmonic pattern perfectly and fell by almost 11.63% after the release of earnings reports.
On July 12, 2024, JP Morgan reported good ER data and above expectations. However, taking a profit is part of the trading process which moves the price down for correction in an uptrend.
Considering that we have the bearish pattern showing overextended conditions in JP Morgan's price, and also the fact that ER will always be positive given its strong position, it is possible that we may see the price of JPM fall further as shown in the chart.
You may find more details in the chart!
Thank you and Good Luck!
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JPM Warning
This is a project I had with absolutely no analysis in mind, so it never made it to this world where Picasso is not wanted and gibberish is dangerous. Just random dots splashed on the tradingview canvas while presumably being in the Nen Zone. Unfortunately, I have never seen anything like it in all the nen projects that have poured into existence through my brain and hand on the mouse. And that's why I am posting this idea as a warning in case the rest of the dots prove to be relevant and JPM will run out of steam in the near future.
I don't want to scare the bulls away, I don't know the mathematical probability for the rest of the dots to end up near the price in future time or the other way around, but still, in another scenario if it ends up descending, I will be looking for potential buy zones at the two inflection points near the ellipse. And that's why I like Cricket.
JPM investment planAccording to my view jpm is also on a pull back to the next resistance as shown,manage to understand this things that is going on in the market,I see this pull backs coming before massive move for this year to take place,soo everything is normal nothing wrong this is how market moves ok.
JPM as A Gauge For Bull Run
I consider JPM as a source of truth in this bull run for several reasons:
Post-Banking Crisis Fragility: Especially following the banking crisis in 2023, banks are more fragile, and money has consolidated in some bigger, safer banks.
Exposure to Various Crises: They have a lot of skin in the game, so any crisis coming from either a tech bust, Japan, bonds, or inflation will surely affect them.
Too Big to Fail: They most probably won't go bankrupt; they are too big to fail.
Correlation with S&P 500: JPM is almost perfectly correlated with the S&P 500.
Lately, I have been observing new all-time highs from both the S&P 500 and Nasdaq, and of course, JPM. It hasn't even dropped below the weekly 20 MA as it did in 2021. So, it is still uncertain if this is a breather or the beginning of the end. Over the last four weeks, the wicks were up but pressured down. Making another local top will be the third in 2024, and that also create 2nd bearish divergence on RSI, so I would watch out for a quick meltdown.
JPM JPMorgan Chase & Co Options Ahead of EarningsIf you haven`t bought the dip on JPM:
Now analyzing the options chain and the chart patterns of JPM JPMorgan Chase & Co prior to the earnings report this week,
I would consider purchasing the 200usd strike price in the money in the money Calls with
an expiration date of 2025-1-17,
for a premium of approximately $17.25.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
JPMorgan Broke Out. Now It’s Pulled BackJPMorgan Chase began July by breaking out to new highs, and now it’s pulled back.
The first pattern on today’s chart is the May 17 close of $204.79. The banking stock consolidated above that level through July 12. Has old resistance become new support?
Next is the price zone between roughly $208 and $210, matching some highs earlier this month. Will this be a place where buyers step in?
Third, the 8-day exponential moving average (EMA) is in the same area. JPM mostly remained above this EMA during its previous run in early 2024. Trend followers may watch for similar behavior amid the current breakout.
Finally, the 50-day simple moving average (SMA) has started rising after a period of sideways movement. That could potentially reflect bullishness over the intermediate term.
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Buy JP Morgan ChaseShort Term Trading Advice by Naranj Capital
Buy JP Morgan Chase
● Buy Range- 209 - 212
● Target- 222 - 225
● StopLoss- 205
● Potential Return- 5-6%
● Duration- 14-15 Trading Days
JPMorgan Chase & CO.JPM needs to violate 199 to the upside, to trigger a rebound near 200.94 - 203.30 - 205.88. As 205.88 is considered the last major peak that needs to be violated, to confirm the major uptrend, with potential targets at 210 - 215- 217.35.
The stop-loss lies below 195.35, as a break below it, will cancel the mentioned positive scenario.
The information and publications are not intended to be or constitute any financial, investment, commercial, or other types of advice or recommendations provided.
JP Morgan Surprises Investors with Strong EarningsOn Friday, JP Morgan surprised investors with a robust earnings release, posting an impressive +4.01% increase and a revenue surge of 20.78% above estimates. This positive news has ignited investor confidence and set the stage for a potential bullish trend.
Historically, JP Morgan's stock has shown a seasonal pattern of growth during this period. Over the past 15 years, the company's stock price has typically increased during the summer months. This historical trend, combined with the recent strong earnings report, suggests a favorable outlook for JP Morgan's stock in the near term.
The pre-market indicators are already showing gains, reflecting investor optimism. Given these positive signals, we are looking to open a long position at the start of the New York session today.
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JPM Time to Bank your profits ?JPM has has had a great run, tacking on 17% since the April low.
They report Friday of this week. Last Quarter they surprised to the upside.
Using a 4H Wolfe Wave analysis we appear to have peaked and could pause or head lower.
The fly in this ointment is that the 15 minute chart has a bullish Wolfe Wave.
So I am waiting in the weeds until the recent gap is filled at around 127.85.
Also need my momentum indicator to roll over.
Note: Powell speaks and other Banks report this week; so possible volatility .
Not investment advice... do your own due diligence.
S.
JPMorgan Potential Resistance Breakout At $210.60 11.07.2024- Technical Setup: A potential breakout above resistance at $210.60 within a 4-hour ascending triangle pattern.
- Upside Potential: If the breakout sustains, there is a significant probability for the price to advance towards $231.16. Further breach of $231.16 could lead to an extended move towards $257.30.
- Downside Risk: Conversely, if the breakout fails, there is a high likelihood of a decline towards $194.43. A breakdown below $194.43 could potentially push the price down to $181.74.
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Disclaimer
JPM Paths Before EarningsA new earnings season is kicking off this week with a lot of banks reporting Friday. I doubt I'll trade any banks, but I think it's important to monitor. JPM looks bearish to me despite the recent breakout. It had a fakeout above its ascending wedge and is now threatening to break below which could send it back down for a retest of the previous bull flag breakout.
#202427 - priceactiontds - weekly update - JPMGood Day and I hope you are well.
JP Morgan / NYSE:JPM
comment: Clear bull wedge, which means buyers at new highs taking profits and since it's the third push up, the probability of a two legged correction breaking below the wedge is decent. Market touched the weekly 20ema 2 times over the past 3 months and the third time will probably happen soon. We also have a decent rejection at 210, which gives you even better odds for a short. I do think longer term shorts can work well, if you can hold 4-6 months until price reaches 185ish. Quicker short for 195, which is the most recent breakout price, is the safer play obviously. Once market hits the C target, I expect a lower high and then some stronger down move to below 190 over the next 6-12 months.
current market cycle: Bull trend which transitions into a trading range.
key levels: 190 - 210
bull case: Bulls see this recent bull trend inside the wedge as strong enough for a third leg. A measured move from W3 would lead to 220. For that to happen they want to stay inside the tight bull channel and turn the market around here quickly. I do think if it drops below 200, that bull trend is over and the high is in or at least a double top would not exceed it by more than 1-3$.
Bull Invalidation is below 200.
bear case: Bears want to keep the upper wedge line as resistance and test back down to the lower one around 196ish. They sold the previous highs for a 10% and a 7% drop. 10% down would bring us to 190, which is suprisingly around the weekly 20ema. Coincidences or math? You decide for yourself.
Bear Invalidation is above 215.
short term: bearish - Two legged correction to at least 200 over the next weeks.
medium-long term: bearish - Trading range 180-200, since we are at the highs, longer term shorts are reasonable.
current swing trade: Short 205, sl 215, tp 200ish or the lower bull wedge line/weekly 20ema
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JPMorgan Chase Stock Dip: An Opportunity Amidst the NumbersIn the wake of last week's unexpected setback for JPMorgan Chase's stock, investors are presented with a perplexing narrative. Contrary to expectations, the banking giant refrained from revising its 2024 revenue guidance, leading to a notable 6% drop in share price. Yet, beneath this seemingly negative surface lies a compelling investment opportunity, driven by robust performance metrics and strategic positioning within the financial sector.
Despite the initial market reaction, JPMorgan Chase's first-quarter results surpassed expectations, with impressive revenue and per-share profit figures. While the lack of upward revision to net interest income guidance caused temporary turbulence, a deeper analysis reveals several positive indicators supporting a bullish outlook.
Notably, JPMorgan Chase has outperformed its competitors in key areas, including loan losses, interest income growth, and revenue diversification. The bank's proactive measures to optimize its balance sheet and enhance fiscal flexibility further underscore its resilience in the face of market challenges.
Moreover, the company's solid financial foundation, highlighted by robust return on equity metrics, distinguishes it as a top performer within the industry. Compared to peers, JPMorgan Chase's profitability remains unmatched, reflecting its ability to deliver consistent shareholder value over the long term.
While market dynamics and external factors may influence short-term stock movements, the intrinsic strength of JPMorgan Chase as a company remains steadfast. As such, the recent dip in share price presents an attractive entry point for investors seeking exposure to a leading player in the financial sector.
In conclusion, JPMorgan Chase stands as a beacon of stability and profitability in an ever-evolving market landscape. The recent downturn in stock price offers investors an opportunity to capitalize on the company's enduring strength and potential for future growth. As always, prudent investors should conduct thorough due diligence and consider their investment objectives before making any decisions.
Would you bet on financial stocks?From a valuation perspective, JPMorgan Chase & Co. is currently exchanging hands at a Forward P/E ratio of 12.2. For comparison, its industry has an average Forward P/E of 11.05, which means JPMorgan Chase & Co. is trading at a premium to the group.
The company's earnings report is set to go public on July 12, 2024. The company's upcoming EPS is projected at $4.17, signifying a 4.58% drop compared to the same quarter of the previous year.
Downtrend Channel BreakoutJPM has a downward channel and I plan to buy the breakout. If the price becomes greater than 198, I will play for a large breakout move on the channel.
If this bounces down tomorrow, then I will have to move the entry price lower or invalidate this setup.
Buy to open = $198
1st Profit Target = $205
Stop Loss = $194
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Revisiting March 2021 low for JPMIt is highly likely beside closing the gap as shown in the chart, if the overall market did not show any bullish signs, then we can expect this stock, JPM to to revisit the March 2021 low once more. From there, it will consolidate for a while before we see any rebound.
JPM looking spicyJPM has excellent greater market confluence to support its forecast, which in our opinion, puts the odds in your favor. That said, catching tops and bottoms can be risky, while selling covered calls for stock holders may be the safer way to get exposure.
JP Morgan: Possible Correction Between 205.5 - 216JP Morgan: Possible Correction Between 205.5 - 216
The price already completed a Bearish BAT Pattern.
JP Morgan is still strong but the current potential reversal zone of the Harmonic Pattern is showing that we can be near to a bearish correction.
However, the price is required to develop more before it moves down at this moment considering
the bullish trend.
Immediate support will be found near the target areas 180; 165 and 140
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
JPM short term top comingOnce 210 zone is reached, we should look for a meaningful pullback toward the 177 zone, followed by a run to new highs.
