JP Morgan Chase Co.: wave analysis
07 May 2018, 09:42
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 108.40 |
| Take Profit | 103.70, 94.00 |
| Stop Loss | 112.90 |
| Key Levels | 94.00, 103.70, 114.73, 119.50 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 114.80 |
| Take Profit | 119.50 |
| Stop Loss | 113.25 |
| Key Levels | 94.00, 103.70, 114.73, 119.50 |
The price can decrease.
On the daily chart, the upward momentum has formed as a fifth wave v within the third wave 3 of the higher level. Locally the formation of the downward correction as a fourth wave 4, within which the wave a of 4 of the lower level is developing, has begun. If the assumption is correct, the price will fall to the levels of 103.70–94.00.
Main scenario
Short positions will become relevant during the correction, below the level of 114.73 with the targets at 103.70–94.00. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 114.73 will let the price grow to the level of 119.50.
On the daily chart, the upward momentum has formed as a fifth wave v within the third wave 3 of the higher level. Locally the formation of the downward correction as a fourth wave 4, within which the wave a of 4 of the lower level is developing, has begun. If the assumption is correct, the price will fall to the levels of 103.70–94.00.
Main scenario
Short positions will become relevant during the correction, below the level of 114.73 with the targets at 103.70–94.00. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 114.73 will let the price grow to the level of 119.50.
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