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It has been a red day for JPM, down 1.4% and the gap after JPM Q2 financials announced has been filled, which is not a good sign in technically analysis. However, considering there is a short term uptrend following the bottom generated by London Whale trading loss and a neutral MACD and RSI, I don’t think there is any rush in selling the stock now, unless it breaks or trend or below the recent $33.5 support. If you are not currently holding JPM, buying breakout at somewhere above $37 would be a safer play.
Okay. Here is the bad picture. 50MA crossed 200MA from above is a golden sell signal in double crossover method.
Disclaimer : This is not intended to be investment advisory, therefore, you should not make investment decisions solely on this blog’s commentary without conducting your own due diligence.
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