JPMORGAN CHASE & CO.: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 191.74 |
| Take Profit | 202.20, 220.00 |
| Stop Loss | 188.25 |
| Key Levels | 135.62, 159.20, 178.53, 202.20, 220.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 178.50 |
| Take Profit | 159.20, 135.62 |
| Stop Loss | 184.95 |
| Key Levels | 135.62, 159.20, 178.53, 202.20, 220.00 |
Growth is possible.
On the daily chart, a downward correction ended as the fourth wave of the higher level 4, and the fifth wave 5 develops, within which the third wave of the lower level (3) of 5 forms. Now, the wave 3 of (3) has formed, a local correction has ended as the wave 4 of (3), and the wave 5 of (5) has started. If the assumption is correct, the asset will grow to the area of 202.20–220.00. In this scenario, critical stop loss level is 178.53.
Main scenario
Long positions will become relevant above the level of 178.53 with the targets at 202.20–220.00. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 178.53 will let the asset go down to the area of 159.20–135.62.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.