JPMORGAN CHASE & CO.: WAVE ANALYSIS

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JPMORGAN CHASE & CO.: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY
Entry Point155.92
Take Profit164.00, 170.00
Stop Loss150.00
Key Levels122.43, 137.00, 150.00, 164.00, 170.00
Alternative scenario
RecommendationSELL STOP
Entry Point150.00
Take Profit137.00, 122.43
Stop Loss154.35
Key Levels122.43, 137.00, 150.00, 164.00, 170.00

The possibility of growth remains.

On the daily chart, a downward correction has completed as the fourth wave of the higher level 4 and the formation of the fifth wave 5 is observed, in which the first wave of the lower level (1) of 5 develops. At the moment, the formation of wave 3 of (1) continues, in which the third wave of the lower level iii of 3 is developing. If the assumption is correct, the price will rise to the area of 164.00–170.00. The level of 150.00 is critical and stop-loss for this scenario.

JPMORGAN CHASE & CO.: WAVE ANALYSIS

JPMORGAN CHASE & CO.: WAVE ANALYSIS

Main scenario

Long positions are relevant above the level of 150.00 with targets at 164.00–170.00. Implementation time: 7 days and more.

Alternative scenario

Breakdown and consolidation of the price below the level of 150.00 will allow the trading instrument to continue its downward dynamics to the area of 137.00–122.43.

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