JPMORGAN CHASE & CO.: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 179.69 |
| Take Profit | 188.50, 195.00 |
| Stop Loss | 176.74 |
| Key Levels | 134.90, 155.35, 171.53, 188.50, 195.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 171.50 |
| Take Profit | 155.35, 134.90 |
| Stop Loss | 176.90 |
| Key Levels | 134.90, 155.35, 171.53, 188.50, 195.00 |
Growth is possible.
On the daily chart, a downward correction formed as the fourth wave of the higher level 4, and the fifth wave 5 forms, within which the first wave of the lower level (1) of 5 develops. Now, the wave 5 of (1) is developing, within which a local correction has formed as the wave iv of 5, and the wave v of 5 is developing. If the assumption is correct, the asset will grow to the area of 188.50–195.00. In this scenario, critical stop loss level is 171.53.
Main scenario
Long positions will become relevant above the level of 171.53 with the targets at 188.50–195.00. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 171.53 will let the asset go down to the area of 155.35–134.90.
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