JPM – JPMorgan Daily Chart with a pullback and potential short opportunity as it pulls back to the line. A lower high could be in the works. The risk/reward ratio is good here and stops can be kept tight above today’s high.
Should JPM close over the right shoulder area it would negate the head and shoulders pattern and be bullish for JPM – a technical buy in fact.
Our measured target is 74 on this trade.
Here’s the daily chart for the banking firm:
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We use market timing, industry group selection, and chart patterns with price and volume analysis.