As the price found support at the previous low at 104 area, now could be forming the right shoulder of the inverse H&S pattern with 107 as small support now. Since JP Morgan is a huge chunk of S&P500, it sometimes reflects where the markets could move soon. A buy now offers best risk reward, then adding on the break of the neckline. Divergence on technical...
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 117.10
• Take Profit Level: 119.00 (190 pips)
The earning season already take places!
Let's check out the major names that will have their earning report this week with me yo!
Tue: GS, JPM, JNJ,WFC,UAL, IBKR
Wed: ABT, BAC, NFLX
Thur: MSFT, MS, UNH
and I got only 20 minutes so I didn't record down Friday names like AXP, BLK, and SLB!
Let's see how they go this week yo!
XLF has reached to the final target zone of a bullish setup (posted in my Facebook page)
Now, with a double and a resistance zone, we can see some pullback (or even a strong bearish wave).
This can be a warning signal for stocks...
SPX also struggles to close in new records highs territory - Back below 2960 and generates a potential false break and a potential...
There may be a potential sell to ride the next wave down for JPM; seems like a double three pattern may be happening at the moment. Currently, it will (probably) undergo its Wave C of Wave Y (I'm not sure, just speculating). A bit tricky on where it would end; i) could potentially push price towards its previous low or lower (around 92.00); or ii) fall short and...
It's earning season again!
There will be plenty of inside day after earnings trades and this one will be the beginning!
Basically I would only want to take the breakout long in these mega banks,
even if it breaks to the downside,I'll also pay attention to the 106.25 demand zone long!
Let's see how it goes!
JPMorgan (JPM) reported record earnings last week with strength across all major lines of businesses amid a “more constructive environment”. The stock jumped 4.2%, the biggest one day move since Nov 2016. With a close above the weekly Ichimoku cloud within reach, all signs point to an impending melt-up in stocks.