looks perfect head and shoulder formation, got lot of sell volume in right shoulder and right shoulder is lower then left shoulder, which is another good sign. JPM can go down up to 45-44$ if this formation works out.. On other hand 200MA might stand as support!!! I am more on short side.
Head and shoulders possible neckline break for short targets around 42.50
Wait until JPM moves below $50.11 before initiating short. Stay cautious that we might bounce there, if so - becomes a long play due to triple bottom.
What a beautiful reversal pattern! The Head and Shoulders will be confirmed by a daily close under 50$ per share. First target is at 46 bucks and full pattern's target is at 43$/share.
A picture is often worth a thousand words - and this Head & Shoulders pattern looks pretty clear to me. For technicians, sometimes this is all the picture you need to act on a trade. There is always a chance for a fake-out like what happened last time a potential H&S earlier this year (as labeled on the chart), but that is trading. Risk 3 average daily trading...
JPMorgan Chase (NYSE:JPM) has risen substantially in the past week. The stock has pushed higher from approximately $50 to $54 in just the past seven trading days. While many are starting to hop on the bullish bandwagon once again, warnings signs are everywhere. Note the chart below. The stock is into major resistance and could very likely see a pullback. Gareth...
It is clear that JPM chart shows some Harmonic Vibration with the 10% movement. We are testing a major support area, which is in confluence with the 10%, so you can expect at least 10% to multiples of this % to appear next. My best guess will be 55. Let's wait and see. Thanks, S.
This morning, J.P. Morgan Chase & Co (JPM) is coming under early selling pressure. The leading financial stock is falling after a government investigation was launched into its Chinese hiring practices. The company has also come under pressure recently after the London whale trading scandal lead to two arrests and caused the bank a $6.2 billion loss. Recently, the...
Just a hypothetical elliot wave potential if bears maintain control. Clear resistance on weekly above $57. If this holds JPM should atleast test the ascending wedge trendline. It might fakeout and bounce from there but unlikely as the stock as had a great run for more than a year now. Some rest is due for sure. Though Bearish case would be negated if market closes...
The mini median line will continue to pull prices up only to be halted by the upsloping purple sliding parallel. Expect some retracement downwards towards the U-MLH but we see a nice pin-bar straddling on the mml. If price breaks above pin-bar, it is "onward christian soldiers!...". If not, it will find support on U-MLH before a another push up. It is at a...
SHORT SETUP. Bearish pinbar candle at trendline and horizontal resistance. Trigger prices < $52.00
With the vote on DImon tomorrow looming, watch the options market closely for "tells". The day before the London Whale story, put volume exploded.
posted this setup last week. share price has weakened as the setup suggested