JMP Short Term Target

CJMackinnon Updated   
NYSE:JPM   JP Morgan Chase & Co.
JPM Broke the current trend line and looks to be heading further down. Possible retest of the trend to watch out for.

Currently playing on a strong resistance that could turn into a support, If we don't hold this as a support I'd expect a retest of the support at around the $134.33 level, targets are $136 & $135.

Trade 1:
Target $136, expires 15th September

Trade 2:
Target $135, Expires 29th September
JPM Closed just under the trend line we we're expecting it to retest. It did break above it but back under.

Tomorrow we should see the price start to pull back and head towards out $136 level. The option for 15th September isn't looking to strong at the moment but we still have 3 days left till that expires
15th September Trade closed at a loss, 29th still open but looking unlikely


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