Reverse Head and Shoulders buildingLong term projection. Perhaps more profitable yield curve could trigger the move.
CMC trade ideas
Weekly Ascending triangle on JPM, $145-150 target?JPM currently has an ascending triangle forming the weekly, with a flat line of resistance around 118 and a rising line of support. Price is getting toward the end of the pattern here, and we had a bit of a false break-out into a decent sell down. However, price is still respecting the rising trend-line support and it had a decent buy-back before last weeks weekly close. The measured move of a potential break-out would give us a price target around $145-150.
Also, for any crypto traders out there, Binance just launched their US exchange (Binance US.) If you need a link to go sign up, click here--> www.binance.us
MA Guide (All weekly for this post):
50 MA in Green.
200 MA in Red.
-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.
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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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!
