Looking at the daily RSI bull div, it seems like JP Morgan might have a small bounce coming ~30 days. Looking at the probability based off of the past daily bull divs.
It could be that the market overreacted to banks collapsing and assuming the same would occur for JP Morgan, which could result in an appreciation soon.
A long worth taking with a tight stop loss, seeing as when these daily bull divs work out they barely see any downside after being indicated.
If short, worth taking caution. Seeing as the price is also already ~15% from the previous high. Though we must also keep in mind that a rising interest rate environment is not good for banks, and Jerome Powell is prioritizing bringing inflation down, meaning he is likely to keep hiking rates.
Share your thoughts below :)
It could be that the market overreacted to banks collapsing and assuming the same would occur for JP Morgan, which could result in an appreciation soon.
A long worth taking with a tight stop loss, seeing as when these daily bull divs work out they barely see any downside after being indicated.
If short, worth taking caution. Seeing as the price is also already ~15% from the previous high. Though we must also keep in mind that a rising interest rate environment is not good for banks, and Jerome Powell is prioritizing bringing inflation down, meaning he is likely to keep hiking rates.
Share your thoughts below :)