Friends of 4xQuad,
Last time 4xQuad opined on a potential primary target ("TG-1"), it took it DEAD-ON right before the bears pummeled price down.
At this point, we are calling a rather abysmal target, TG-1 = 42.88. This bearish target might be a bit premature, but our technical analysis has drawn the line at that level, so we felt we should keep our readers...
JP Morgan is breaking out of a flag pattern, Just broke above a key Fib line as well as its 50 dma. I like a move to its swing point at $54 then we're off to all time highs.
The H&S has been redrawn a little bit. Now we have 2 bearish Patterns. If 50$ will fall, I maintain our targets, if the upper line of the triangle will be broken then I'm thinking of a rally to 55$ per share.
News broke late this afternoon that JPM could settle its claims for $11 Billion. Catalyst? Check. JPM catapulted off of support aligned with the 200 Day Moving Average in today's trading. I'd like to enter short on a spike around $53 (gap fill) with a stop loss above the 20 MA on a closing basis. Should this trigger below support, it would probably be wise to...
