Here is the updated chart on JPM short trade I have posted on January, 12th. Brief pop above the resistance level to clear out any shorts. Turning around and dropping down below which proves to be a bull trap. From there, pretty steady down trend day after day. Today, hitting the first target. 10.5% down from the high. Next target is $117.20ish level and reaction...
JPM has held the 20day so I am looking for a reversal. I will be paying attention to banking and specifically BAC and AXP because of the similar charts. I want to see a break of recent highs and the trendline above.
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$JPM is projected with a bullish outlook after a positive under reaction following its earning release with the PEAD placing the stock in Drift A
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JPMorgan profit surges on lower loss serves , investment banking strength
JPMorgan's net income rose 42% to $12.1 billion or $3.79 per share , in the quarter ended Dec . 31 from $8.5 Billion or $2.57 per share , a year earlier.
So from techinc analysis we can see more wave bullish and Moving Average of Price read the price up when market open down today.
JP Morgan & Chase (JPM) (January 15th 2021 through April 2021)
Low: $128 - $137
In the spirit of expected positive Q4 earnings for JPM in 2020, I've taken a bit of time to create an analysis for use in my Cindicator forecasting.
This is just a shorter term idea, part of a larger expectation attached in related ideas below:
JP Morgan & Chase (JPM) (January 15th 2021 through May 2022)
Bullish range estimates:
Low: $113 - $128
High: $189 - $214
Low: $86 - $123
High: $189 - $214
So with earnings being announced in a few hours, I thought I would take a look at JPM for Cindicator forecasting.
It should be noted that this chart could be extremely inaccurate as I...
Short-Selling Idea for JP Morgan after tomorrow's earnings report.
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Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc.
Information and opinions contained with this post are for educational purposes and do not constitute...
This is a potential set up and not yet actionable unless you want to take an aggressive starting position. JPM has finally up to pre COVID price level. The run up recently has been too fast too sharp in my opinion. RSI is extreme over bought reading. Any marginal high will extend the PPO divergent high. Be careful trading this since the earning is coming up on...