thedrtrader

JPM possible short setup going into earnings

NYSE:JPM   JPMORGAN CHASE & CO
JP Morgan is ranging from the past three months, and its at the highest point in the range.
Stochastic indicator is entering into the zone
If it closes below 117.23 i.e the next support level , will go short with risk:reward of 1:1

Comments

The price has reached the target price, and there is doji formed in Daily chart. Prior earnings, possible 114
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I took some profit yesterday and moved my stop loss to break even, today stock gapped up and got stopped at break even.
Have to re-evaluate the stock technical analysis again.
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