JPM has rallied on the potential settlement. Now it's time to short it. If not sure, then buy C and short JPM for over 5 dollars.
Friends of 4xQuad, Last time 4xQuad opined on a potential primary target ("TG-1"), it took it DEAD-ON right before the bears pummeled price down. At this point, we are calling a rather abysmal target, TG-1 = 42.88. This bearish target might be a bit premature, but our technical analysis has drawn the line at that level, so we felt we should keep our readers...
JP Morgan is breaking out of a flag pattern, Just broke above a key Fib line as well as its 50 dma. I like a move to its swing point at $54 then we're off to all time highs.
The H&S has been redrawn a little bit. Now we have 2 bearish Patterns. If 50$ will fall, I maintain our targets, if the upper line of the triangle will be broken then I'm thinking of a rally to 55$ per share.
Just look at the chart, it is so symmetric. it's have to work. :) (anyway ,you have to put stop in the right place)
Keeping an eye out for RSI divergence intraday or an overbought reading coinciding with gap fill to initiate a short.
the last hs failed to reverse trend, which makes this HS more likely this time around to reverse below neckline. a 6 dollar drop in price is expected.
News broke late this afternoon that JPM could settle its claims for $11 Billion. Catalyst? Check. JPM catapulted off of support aligned with the 200 Day Moving Average in today's trading. I'd like to enter short on a spike around $53 (gap fill) with a stop loss above the 20 MA on a closing basis. Should this trigger below support, it would probably be wise to...
The model head and shoulders. Reduction of share of the banking sector.