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JPM trade ideas

JP Morgan mostly unaffected from the banking turmoil of early MaJP Morgan Chase & Co (symbol ‘JPM’) share price has been making consecutive gains in the beginning of the year with a correction taking place in early March where the failure of banks in the US shocked the markets . The company is expected to report its earnings for the fiscal quarter ending March 2023 on Friday 14th of April. The consensus EPS for the quarter is $3,43 compared to the result for the same quarter last year of $2,63. ‘JP Morgan took a light hit through the turmoil in the banking industry mainly because of its big size, too big to fail. With a dividend yield of over 3% and with a strong balance sheet, the company is an attractive addition to investors portfolio.’ said Antreas Themistokleous at Exness. From the technical analysis perspective the price found support on the 38.2% of the daily Fibonacci retracement level after incurring losses in early March when news about bank failures hit mainstream media. The Bollinger bands are shrinking indicating the volatility is slowing down while the 50 day moving average is still trading above the 100 day moving average indicating the bullish momentum might still be valid. In any case the levels of $134 and $123 consist of technical support and resistance areas since they are the 23.6% and 50% of the daily Fibonacci retracement levels respectively.
NYSE:JPM
by Exness_Official
JP Morgan locally correcting. JPMBounce off a local resistance, which I did not show, sinking in the phase of a possible B Wave. Very short term out look of a ~5% drop in stock price or more. ATR (moving) for Stop. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
NYSE:JPMShort
by Rykin_Capital
Banking Sector: Part 2: JPMLast week we looked at the banks through the lens of relative strength ratios and the yield curve, concluded that all banks were weak, that regional banks are much weaker than the money center banks, and that banks at the index level had underperformed the SPX since the early 2000s. Prior to the events of the last few weeks, I believed that a significant credit contraction was already unfolding. Recent events have solidified that view. In my view we are early in a banking crisis, that will be centered in regional banking. I expect significant distress but have mixed feelings as to how this Fed will react. The four largest US banks have 9.1 trillion in assets representing roughly 40% of all banking assets. All four are considered systemically important banks and can be considered the sector generals. This week we focus on JP Morgan. JPM Monthly: Much stronger volume in comparison to the recent past after breaking down from strong resistance suggests that the corrective behavior from the October 2022 (101) low to the most recent high is complete. The low volume on the rally coupled with the expansion of volume and a show of weakness suggests that a significant decline is likely unfolding. MACD oscillator failed to generate a buy signal and has turned lower again (see the notes in the triple screen paragraph). Uptrend support at 104 is minor, I will be surprised if it is strong enough to contain the high volume thrust that is unfolding. Lateral support at 101 and again at 77 are prime areas to monitor for bullish behaviors. The 50% retracement of the entire bull market falls in the 88.00 area. The potential for a head and shoulder top is very apparent in this perspective. JPM Weekly: Weekly: Making a high-volume show of weakness after testing the internal 141 resistance zone. The high volume coupled with recent closes near the lows of the weekly price spreads strongly suggests follow through. The weekly MACD oscillator has rejoined the monthly oscillator (see triple screen below) on a sell signal. First meaningful chart support cluster in the 101 zone (roughly 17% lower). The support confluence begins at roughly 106 and ends at roughly 95.00 with the lateral support from last Septembers lows (101) being by far the most consequential. A significant violation of the 101 zone would strongly suggest that a systemic event was unfolding. A breakout would likely target the next major lateral support in the 77 zone. Triple Screen: JPM Triple Screen: Poor MACD momentum across all time perspectives. All perspectives are on sell signals. Note the fresh turn lower in the weekly. The monthly is interesting in that the faster average moved back (hooked higher) to test the slower average and then failed. I generally consider this a failed test (in momentum terms). The failed test makes the weekly sell signal more compelling. Note that the daily is a bit oversold, but with monthly and weekly turning over it isn't a major warning. Fibonacci: There are three relationships that interest me. The first is the retracement of the entire bull market. The first leg lower found support in the 38% retracement zone. The 50% comes in around 87.00 and finally the 61.8% in the 67.85 zone. The second is the retracement of the last bull thrust from 77.00 - 173.00. The third is the Fibonacci extension of the 2021 high, to the most recent support and then extended from the last high. Equality (1) @ 107.00, 43.00 and 26.00. Conclusion: Price action is extremely poor. Next zone to monitor for bullish behavior is around 101, but I suspect that much lower is likely. The caveat clearly is the Federal Reserve. If they decide conditions are dire and pivot to cutting rates and ending QT, this could change rapidly. Monitor credit spreads for distress. In the meantime, I will favor strategies that allow me to sell into hourly and daily perspective strength. And finally, many of the topics and techniques discussed in this post are part of the CMT Associations Chartered Market Technician’s curriculum. Good Trading: Stewart Taylor, CMT Chartered Market Technician Taylor Financial Communications Shared content and posted charts are intended to be used for informational and educational purposes only. The CMT Association does not offer, and this information shall not be understood or construed as financial advice or investment recommendations. The information provided is not a substitute for advice from an investment professional. The CMT Association does not accept liability for any financial loss or damage our audience may incur.
NYSE:JPM
by CMT_Association
JP Morgan looking for a bounce?Looking at the daily RSI bull div, it seems like JP Morgan might have a small bounce coming ~30 days. Looking at the probability based off of the past daily bull divs. It could be that the market overreacted to banks collapsing and assuming the same would occur for JP Morgan, which could result in an appreciation soon. A long worth taking with a tight stop loss, seeing as when these daily bull divs work out they barely see any downside after being indicated. If short, worth taking caution. Seeing as the price is also already ~15% from the previous high. Though we must also keep in mind that a rising interest rate environment is not good for banks, and Jerome Powell is prioritizing bringing inflation down, meaning he is likely to keep hiking rates. Share your thoughts below :)
NYSE:JPMLong
by xprojoepzz
Will tomorrow be the day $JPM drops to $71? I think it could >It sounds a little nuts, I know. But hear me out. We clearly have a double touch on the upper channel line on the 12 month- clear rejection. The 9 MA on the yearly looks awful too. General weakness, there and within the stoch rsi and mac d. The 3 month also looks awful. Let's hone in though on the 9 MA and 20 MA on the chart though- they're clearly about to fall through them. Oh, not to mention, the major obvious head & shoulders pattern. Everything looks horrible. Almost makes me wonder if the speech wasn't "awful" news today because tomorrow is the real drop, when everyone thinks the worst is out of the way... who knows? I just call the technical analysis like I see it. And based on the daily time frame anyway, I don't see anywhere else that JPM could LOGICALLY retrace to... so why would it? Time to drop :)
NYSE:JPMShort
by UnknownUnicorn1935796
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