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Oscillators down for this time-frame
JPM has a daily shooter after its earning report, also, there is a XYAB and demand zone combination.
If it's able to break to the upside, it'll be a very worth-taking long trade opportunity!
While, as the market bounced so much yesterday, to form an inside day actually showed significant relative weakness.
But after all , if it still can break the shooter to the ...
JPM- long very soon
daily buy signal buy - however price can fall towards weekly support profile.
Whats up Traders -
Looking like there could be a nice downside here if conditions become appropriate.
JPM seems in the middle of a long term correction. It could be an expanding triangle or a flat correction. Look to the price action on the lower channel for a potential bounce.
JPM reached a support level consistent with a trend line dating back to June 2017 and RSI just dropped below 30 - indicating oversold conditions. In addition - JPM is set to benefit from increased interest margin. JPM will also increase it's share buyback program following earnings, which will increase volume and the likelihood of a price increase.
I don't think JPM or any financial institution is going to enjoy this ride back down to the mean.
This is going to be a very painful, painful days to come.
Good luck everyone ;)
BLUE = Bear/Resistance
Yellow = Bull/ Support
~Explore the chart for possible scenarios of price actions - use zoom and scroll for better view.~
/*This information is ...
great support headed into earnings friday morning
$JPM forming what appears to be a long-term bullish ascending triangle with resistance just below $120. We saw some huge call volume today ($50M+) in Jan'19 deep-in-the-money contracts ($40/$65/$70 strikes).
Earnings due out late next week - monitor for an eventual break through ~$119.50 resistance level.
Medium term target - $130
Long term target - ...
bullish harmani candles at play
more upside soon. waiting for 110 to reenter long
Look for JPM to bounce off the support area here. Gives a great opportunity to play earnings. Best performing name in the banking sector right now. Recent online trading app will bring more money and gains to Chase in both immediate and future.
good support here. must hold, needs to hold