LONG - JPM - Trading OpportunityNYSE:JPM trying to break the resistance that has been stopping it for the past 2 years, with the monthly candle closing tonight, it will probably have completed the breakthrough, which means that a good entry with a stop loss below is quite the safe trade, as it hasn't pumped much past the resistance, but enough to confirm our idea.
Target 1: 136
This is where we will take our first share of profits, then we will proceed with a trailing stop-loss.
SL: 106.99
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CMC trade ideas
JP Morgan update double topForming a double top at all time high level with good divergence on indicators. Neckline was previously strong resistance, so a break through it should give high probability for a short.
Majority of funds and banks price target this stock below $100 level.
Considering that indices could be topping, this could signal beginning of the downturn in equities.
Good Luck!
JP Morgan Breaking out. JPMorgan Chase & Co. is a financial holding company, which provides financial and investment banking services. It offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure; capital raising in equity and debt markets; sophisticated risk management; market making in cash securities and derivative instruments; and prime brokerage and research. It operates its business through the following segments: Consumer and Community Banking; Corporate and Investment Bank; Commercial Banking; and Asset and Wealth Management. The Consumer and Community Banking segment serves consumers and businesses through personal service at bank branches and through automated teller machine, online, mobile, and telephone banking. The Corporate and Investment Bank segment offers a suite of investment banking, market-making, prime brokerage, and treasury and securities products and services to a global client base of corporations, investors, financial institutions, government and municipal entities. The Commercial Banking segment delivers services to U.S. and its multinational clients, including corporations, municipalities, financial institutions, and non profit entities. It also provides financing to real estate investors and owners as well as financial solutions, including lending, treasury services, investment banking, and asset management. The Asset and Wealth Management segment provides asset and wealth management services. It offers investment management across all major asset services, including equities, fixed income, alternatives, and money market funds. The company was founded in 1968 and is headquartered in New York, NY.
JP Morgan updateTrade closed on the long as we test resistance. Now overbought testing confirmed highs. Great risk-reward for a short here. Looking at smaller time frames after US session opens to time the entry. JPM was downgraded by several equity funds. They have a market cap of $372.89B.
Good Luck!