The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero lines.
The oscillator Force Index is above the zero lines.
If the level of resistance is broken, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 121.40
• Take Profit Level: 123.00 (160 pips)
JPM currently has an ascending triangle forming the weekly, with a flat line of resistance around 118 and a rising line of support. Price is getting toward the end of the pattern here, and we had a bit of a false break-out into a decent sell down. However, price is still respecting the rising trend-line support and it had a decent buy-back before last weeks weekly...
JPM shows classic Buyback price action, resulting in a momentum style run recently. The stock is now at a long-term resistance level from prior years. The Buybacks are now facing Dark Pool Quiet Rotation™ at this price level.
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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
Trade closed on the long as we test resistance. Now overbought testing confirmed highs. Great risk-reward for a short here. Looking at smaller time frames after US session opens to time the entry. JPM was downgraded by several equity funds. They have a market cap of $372.89B.