$JPM $112 Target for JP Morgan Short term
Stock has managed to cross the much hated $105 level pre-market,
lets see if it can stay there and possibly set up a move to the 200ma @ $112.
Yesterdays rally was cut short buy the late day selloff.
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JPM trade ideas
$JPM #TechnicalAnalysis #FundamentalAnalysis #Trading #ChaseEPS Next Y 52.57%
EPS Q/Q -70%
Div 3.62%
Income 23.39B
Sales 76.32B
Market Cap 308.6B
P/E: Very inexpensive at 13.39 (GREAT VALUE THAT PAYS A decent DIVIDEND)
Forward P/E 11.38
Profit Margin 45%
ROE 14.80%
Short Float 0.66%
Target Price (Target A $108, Target B $112.72)
Great trade opportunity here.
JPM earnings 7/14 - swing calls, small positionWhen you see weekly chart, there is a clear consolidation after a sharp drop. Normally traders look for a second move lower. However on daily chart I see a pullback after a strong move up to 200sma. RSI went over 70 and is in bull support zone, and price has moved to bullish Ichimoku cloud. My readings indicate that the Fed has helped banks gain cash and it is possible investors will start buying this stock on good earnings news. I bought 8/21 expiry 105 calls. I might lose value due to IV drop but there is enough time for stock to move up to $113+.
Of course there is risk of stock going lower so keep your position small.
JPM contrarian earnings tradeJPM is coming out with earnings on Tuesday the 16th. A lot of people are HEAVILY bearish on financials. But how bad are the banks really when they are raking in money from the PPP programs? Not to mention all of the bad loans the Fed is taking off the books? We could see a big pop up after the earnings call. I will be out if nothing happens after earnings. Aug 100 and 110 calls.
Cheers,
-Sherem
JPM and other banks BAC C needs to catchup in rally $JPM Reports tomorrow. Pinned right between VWAPS from recent high and prior highs. If the earnings were half decent this can run. Big tech did take lot of oxygen from banks now they can take breather let the other sectors participate in next leg of rally. $101->$105-->$115