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...
Last time, we had a great trade after price violated uptrend support line, now it even the price looks weaker than before, and may have formed a bearish head and shoulders' top which has a measured move to $42-$41 area. This may take time to achieve that downside target, and if you want to be aggressive, make your stop loss at recent swing high $48.16. Join us...
Still holding the short position, and will see if it can hold the downside target $46.85 area if it fails expecting even more serious sell off towards $43.21 previous buying point. Join us www.woowtrading.net
