2waytrading

Will FED Help the stock reclaim March top?

NYSE:JPM   JP MORGAN CHASE & CO
61 0 2
Sense the price topped out March this year, price has been in corrective phase. Though it bounced from May low and gained 12%.. last few sessions price stayed above 25% line which is area of interest for both long and short positions. If today's news is any sign of rate increase, expect Banks to benefit. In any case, if market as it looks turns down, JPM             will even get worst and $54.96 is ideal target with stop loss at $60.
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