JP Morgan Chase Co.: wave analysis
02 April 2018, 09:35
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 110.02 |
| Take Profit | 119.30 |
| Stop Loss | 106.95 |
| Key Levels | 100.05, 106.40, 119.30 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 106.30 |
| Take Profit | 100.05 |
| Stop Loss | 108.40 |
| Key Levels | 100.05, 106.40, 119.30 |
The growth of the price is expected.
On the 4-hour chart, the upward momentum is forming as a fifth wave v within the third wave 3 of the higher level. Locally the development of the downward correction as a wave (iv) of v has ended. If the assumption is correct, the price will grow to the level of 119.30. The level of 106.40 is critical for this scenario.
Main scenario
Long positions will become relevant above the level of 106.40 with the target at 119.30.
Alternative scenario
The breakdown and the consolidation of the price below the level of 106.40 will let the price go down to the level of 100.05.
On the 4-hour chart, the upward momentum is forming as a fifth wave v within the third wave 3 of the higher level. Locally the development of the downward correction as a wave (iv) of v has ended. If the assumption is correct, the price will grow to the level of 119.30. The level of 106.40 is critical for this scenario.
Main scenario
Long positions will become relevant above the level of 106.40 with the target at 119.30.
Alternative scenario
The breakdown and the consolidation of the price below the level of 106.40 will let the price go down to the level of 100.05.
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