JP Morgan D1 The banking sector is at the bottom, after a strong fall associated with the global epidemic. While the global economy did not function, banks received less profit. Now business activity is recovering and banks are increasing cash flow. Likewise, lending programs will now work more actively, because many areas of the business will need additional investments. The shares of one of the largest banks in the USA JP Morgan are at a very convenient price to buy and have a good prospect for growth.
0Q1F trade ideas
JPM eyes 66,5$ levelThere are a lot of weak charts out there, this is one of them. As S&P and other went all the way up to high levels JPM and some others struggled a lot. Now that we see an oncoming weakness in the broad market, charts like these will fall like rocks as other more stronger ones brace for a correction.
CLEAR ascending support on JPM - and we are lazy at it right nowAscending support on JPM - some will also identify the pivot highs calling for a triangle pattern.
Keep an eye on this support level if the market gets weaker - looking for things that were already lazy when the market was strong... looking for those to then get even weaker when the market gets weak... this is a good way to find intraday setups!
Hope this chart perspective helps the community
xeenos trading - sending positive energy to all those watching.