Disclaimer
There are a lot of different models for this, and It's hard to determine, but some of the models I have seen have the first wave forming at the first high after the covid sell-off (96.55), but I consider that cluster part of market chaos/confusion and consolidation and therefore part of the formation of wave 1, wave 1 saw the highs of 115, initially I believed,...
Trend broken . Send it to March lows .
NYSE:JPM Just a long idea: Entry $94.00 - $94.50 Take profit $97.00 - $97.50 Stop loss or hold long is up to you Disclaimer!
JP Morgan is under pressure, and rightfully so, considering they've been caught with their hand in the cookie jar, once again, ahhhh the blasphemy! I always find it ironic when the same banks calling Bitcoin a fraud get caught for fraud or money laundering, it strengthens the argument for Bitcoin every single time. Possible H&S breakdown, bearish cross on the...
Picture perfect chart here. Only 4% between following key levels: - Support line has been tested 5 times & now coinciding with 50 dma - Resistance line has been tested 2 times & has been coinciding with 200 dma Daily RSI convergence confirming price action While in the middle of those support / resistance lines, 2 major dma's, we are also stuck between the 50 &...
My idea on Banks coming up. For some reason i believe Banks like JP and GS will do well coming up. And believe while techs take a break possibly and even some names retreat , Financials will have to step in and save the day with MKTS. GOOD LUCK TO ALL
My trade plan is continuous keeping all of Long positions in the Banking Sector. JPM and BAC can return to Uptrend after hit the Bottom Support Trend Line. Disclaimer!
The undervalued gem .
Happy Labour day weekend traders! Looking at banks here, BAC and JPM with Ascending triangles, possible breakout in banks. A test of the 200 SMA would be 27.28. Recent option flow, 3200 Nov $28 calls for BAC. JPM - over 5000 for Nov $110 calls. I will post some more charts later. Enjoy!
- Ideal entry around 99.51 - Undervalued stock
SPY looks to have regained its bullish edge over QQQ in the near-term, I expect banks to lead the pack on the breakout / short squeeze.
Waiting for October may be the best scenario to have some #JPM stocks As it recovers from the Corona sentiment
BAC : Bank Of America , Too big to fail .