JPM has rallied on the potential settlement. Now it's time to short it. If not sure, then buy C and short JPM for over 5 dollars.
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.
Just look at the chart, it is so symmetric. it's have to work. :) (anyway ,you have to put stop in the right place)
Keeping an eye out for RSI divergence intraday or an overbought reading coinciding with gap fill to initiate a short.
the last hs failed to reverse trend, which makes this HS more likely this time around to reverse below neckline. a 6 dollar drop in price is expected.
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...
The model head and shoulders. Reduction of share of the banking sector.
Could rip straight down from here but I think there is better entry. If no entry arrives, its on to the next one for me.
If we have to learn from the past I am not sure what will happen here