Stocks basically chopped and back in recent weeks and months, frustrating schedule-to drive the crowd in the hope of a new major rallies or the market will collapse. Although it would seem, every day we get a new political, geopolitical or financial Title contrary to the news the previous day that the Fund managers are focused on now is the season of earnings. Houston JPMorgan Chase & Co. (Ticker NYSE:jpm) is one of the first companies to announce this Friday … and it is very important. In today’s analysis below, I estimate, where the jpm stock can be a good reward to risk buying again after any post-earnings weakness…if and when.
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As I stated in the beginning of each season earnings to our subscribers club, direct clients, and also in this column, the best trading opportunities at any time of the year earnings after the company reported earnings. This means that to take a position ahead of and through the statement of income in the hope of a specific short term outcome of gambling at best.
With this in mind, let’s take a look at the charts of stock jpm and see what levels we can chart where trades following the report can be posted.
The jpm stock chart
Click to enlarge
Moving averages legend: red – 200 a week, blue – 100 a week, yellow – 50 a week
First, the big picture multi-year weekly chart. Here we see that at the end of 2016, according to jpm stock not only broke past important horizontal support, as indicated by the blue rectangle, but became steeper the slope, as she flashed a sustainable upward trend. By the beginning of 2018 this trend is exhausted and the stock stopped going higher along with the broader market.
From the point of view of dynamics, as in the MACD indicator at the bottom of the chart for jpm stock remains significantly overbought at this time and thus may need more consolidation, if not the means-the return of Frank below.
Click to enlarge
Moving averages legend: red – 200 day, blue – 100 day, yellow – 50 days
On the daily chart, we see that as the shares of jpm and failed to achieve a steady increase in highs at the beginning of February, he also has a distinct head and shoulders. This pattern, which is marked higher highs and lower highs, and then in March, as a rule, converted into a disadvantage.
The 105-$$106 area is particularly important for this action because it coincides with a horizontal support, ie the neckline of head and shoulders, as well as support Diagonal for the black line support.
What would interest me from the point of view of business it is to buy shares in jpm and a break below this area of confluence of support and move in the direction of the field 102$, which is where currently the red 200-day moving average is located. If and when that happens, I would like to see the jpm stock as a good reward to risk again to buy.
Check out Anthony Mirhaydari via the Daily market review for 12 April.
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