Cup and Handle Rising wedge Earnings 4-14 BMOJPM has been in several rising wedges and is in another one now. (I did not draw all of them) JPM appears to have pierced the bottom trendline of the rising wedge it is traveling in now. That may be all there is and may not fall any further.
Rising wedges are long term patterns and a security can go a long way inside of one without ever even peeping out. Rising wedges are most often bearish and interrupt supply and demand.
Earnings in a few weeks. I think they are expected to do well.
This stock has definitely outperformed and the chart is bullish, except for that wedge. Strong support can catch price though so do not mean to sound bearish. There is a lot going on in this chart including a possible bull flag.
Not a recommendation.
In a rising wedge you will see a lack of touches at some area, or areas, where price failed to touch trendline. When you draw the upper and lower trendlines, they will converge at the apex. A broadening wedge looks different. A broadening wedge looks like a megaphone and the 2 trendlines become wider and wider as you draw them. A broadening wedge is not necessarily bearish, a rising (ascending) wedge usually is bearish. If you have owned a stock that seems to bounce around going almost nowhere..ie BABA, then you may be dealing with an ascending broadening wedge. No pattern lasts forever though and eventually the broadening wedge will choose a direction. A broadening wedge can make lower lows and higher highs so not always a bad thing, until it hits the top and travels down again. But nothing stays the same forever (o:
