CMC trade ideas
NYSE: JPM/ JP Morgan bullish reversal by tomorrowJP Morgan has been ranging for a few months now. I anticipate it to do the same thing it's been doing thus far and continue consolidating. We look to see a rejection in today's trading session and a confirmation of a bullish reversal by tomorrows trading session. JP Morgan will bounce off our strong support cluster to continue ranging until we get a confirmation of a clear breakout in either direction.
Attempt at Wave Confirmation (1d) (Jan 2022)JP Morgan & Chase ( JPM ) (January 2022)
I still believe there may be an Elliott wave in this chart printing since the March 2020 market-wide crash. I've had to update since the last time I published but I was able to clean up this chart. I will try to watch this one more frequently now.
I think the next drop will end near ~$140 or even ~$130 depending on our suspected 4th wave here. Looking for a 50% or 38% retrace to confirm a 4th wave, those 2 price levels would satisfy that condition for me. It seems like it has already retraced further than 24% (<0.786) so I expect at least $140 or $130 if this is a true Elliott wave. I suspect this drop could continue from now into March or May 2022.
After a drop to one of the suspected levels for 4th wave, I expect a 5th wave that could end at either $170 (red/gold fib 1.0) or $191 (red fib 1.27/gold fib 1.618) anytime from December 2022 to February 2023. A final peak of $170 would make wave 5 a "failed 5th wave" and would probably support the fundamentals of a "double top" chart pattern as the suspected wave 3 ended along the same level.
Note the 3 moving averages converging on the price range I indicated for a 4th wave.
Previous chart leading to these conclusions:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
$JPM with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $JPM after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 75%.
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JP Morgan earnings on 1/14 at 6:50amJP Morgan Chase (JPM) Q4 December 2021 earnings are on 1/14 at 6:50am. JP Morgan Chase (JPM) reported Q3 September 2021 earnings of $3.74 per share on revenue of $31 billion. JPMorgan Chase had $3.8 trillion in assets and $290 billion in stockholders equity as of September 30, 2021. The setup for bulls was better a few days ago, now it's likely a better setup for bears. With that said, I'm neutral leaning bullish here because of the institutional rotation into financials for 2022, Fed quantitative easing tapering and anticipated rate hikes, along with a possible Q4 earnings flat, but with a positive Q1/2022 earnings guidance in the conference call. Here's the 1 day price levels.
Q4 Consensus:
EPS = $2.97
Revenue = $29.71B
P/E = 10.62
Div /Yld = 2.205
52 week high = $172.96
52 week low = $123.77
SMA200 = $159.29
SMA150 = $160.16
SMA100 = $162.73
SMA50 = $163.27
breakout = $167.53
R3 = $165.16
R2 = $162.79
R1 = $160.42
pivot = $158.05
S1 = $155.68
S2 = $153.31
S3 = $150.94
breakdown = $148.57
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JPM JPMorgan Chase Neutral1- CCI 20 is perfectly over 140. (sideway )
2- a little close to Resistance than support. ( little bearish )
3- The red line is over the White line of “ACL” (self-made indicator) .( Bullish ) (ADL indicator)
4- "Multi analyzer" (self-made indicator) is uptrend and is 5 right now. ( Bullish )
5- Close is over the red and white line ( Bullish )
6- Mid-term channel (LR of 9months) is ascending (Bullish )
7- Long-term trend is Bullish ( little Bullish )
8- In bottom half of Mid-term channel ( bearish )
9- around middle of channel ( little bearish )
Overly , Bulls are stronger
Buying is suggested in reaction to bottom of the channel.
Buying is also suggested after breaking the resistance around 173$
SL: depend on the setup (I will clarify later)
TP1 : depend on the setup (I will clarify later)
TP2: depend on the setup (I will clarify later)
Beyond the technical: (do your analysis, I’m not educated in the case of fundamental analysis academically)
Fair Price to Intrinsic Value: 2.72
To summarize my fundamental opinion on this stock:
A little bad ( a little bearish)
In case of good stocks I prefer to be an investor not a trader, but trading with lower Trading with smaller amounts can increase the overall profitability without any unreasonable risk.
JPM bearish Elliot waves After making a high on the harmonic butterfly pattern JPM has reached a critical inflection point where we're probably going to see either the trend continue or an important break. A breaking of the current support might give us our 5th wave in an Elliot based drop. If that's the case, then the next rally can turn into a huge bull trap.
JPMorgan ChasePotential double bottom setup here. I like this companies financials. It's a credit card company so I'm thinking about the attractiveness of reward points and holiday spending. Even though it's not estimated to be a great holiday season for some, I'm more so thinking about the surcharges and end of month billing here. Chase is also a bank on top of that and just in case they raise interest rates, this may not be a bad move. I want us to reach anywhere between 50-68% of the previous high which was set inn October. I love financials around this time of the year. Let's see what happens!
Not Advice!
Only an Idea!
This trade may end up going wrong. That's the nature of trading! Let's keep getting better!
JPM loses trendline support JPM and C have the most bearish charts of all the banks ..
Here you can see by the volume that Investors have been dumping this since NOV. Closed below trendline support but but bounced off its weeklys 50sma. if it falls below that weekly 50sma we are headed back to 141support.
This chart actually goes contrary to my view of XLF rallying. I'll have reevaluate XLF is JPM loses its 50sma
JPM - STOCKS - 11. OCT. 2021Welcome to our Weekly V2-Trade Setup ( JPM ) !
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4 HOUR
Small pullback towards previous support zone.
DAILY
Expecting more upside pressure now!
WEEKLY
Market looking for a turn..
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STOCK SETUP
BUY JPM
ENTRY LEVEL @ 167.48
SL @ 158.14
TP @ Open
Max Risk: 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN