Full disclosure...I believe that JPM's recovery from the COVID crash occurred for 1 of 2 reasons, maybe both:
1) They're too good at making money (or not losing it).
2) They're cheating.
There are two concerning trends that I would like to point out with this analysis.
I'm more inclined to believe the latter due to precedence, which increases the long-term risk for big dips. Yes, they will recover from any selloff, however, this is the reason that I do not like JPM long.
The news regarding the soccer super league that would be financed by JPM is a big reason for the dip we are seeing now. Reports (credibility unknown) show that soccer fans are boycotting the bank for all the wrong reasons.
If the stock breaks the lower boundaries of the wedge, I can see a selloff to a sub $145 region, which would provide a great buy opportunity, with a $163 price target in mind.
The same goes for the upper limits of the wedge.
The Head and Shoulders pattern gives me some worry about the possibility of breaking $150, before going below $145.
Bold predictions as usual...
JPM options usually prove to be extremely lucrative
I believe that they are currently overvalued (especially at $160), I would love to hear some reasons for an oppositional opinion.
*Share your thoughts and concerns with my views!
**Not a financial advisor.
***Don't judge me on my winners. Judge me on my losers, because there are so few.
1) They're too good at making money (or not losing it).
2) They're cheating.
There are two concerning trends that I would like to point out with this analysis.
I'm more inclined to believe the latter due to precedence, which increases the long-term risk for big dips. Yes, they will recover from any selloff, however, this is the reason that I do not like JPM long.
The news regarding the soccer super league that would be financed by JPM is a big reason for the dip we are seeing now. Reports (credibility unknown) show that soccer fans are boycotting the bank for all the wrong reasons.
If the stock breaks the lower boundaries of the wedge, I can see a selloff to a sub $145 region, which would provide a great buy opportunity, with a $163 price target in mind.
The same goes for the upper limits of the wedge.
The Head and Shoulders pattern gives me some worry about the possibility of breaking $150, before going below $145.
Bold predictions as usual...
JPM options usually prove to be extremely lucrative
I believe that they are currently overvalued (especially at $160), I would love to hear some reasons for an oppositional opinion.
*Share your thoughts and concerns with my views!
**Not a financial advisor.
***Don't judge me on my winners. Judge me on my losers, because there are so few.