JP Morgan Chase Co.: wave analysis
26 June 2019, 09:35
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 107.76 |
| Take Profit | 122.50, 127.80 |
| Stop Loss | 104.82 |
| Key Levels | 85.90, 97.79, 104.82, 122.50, 127.80 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 104.75 |
| Take Profit | 97.79, 85.90 |
| Stop Loss | 107.10 |
| Key Levels | 85.90, 97.79, 104.82, 122.50, 127.80 |
The price may grow.
On the 4-hour chart, the fifth wave of the higher level 5 of (3) develops. Now, the local correction of the lower level has formed as the wave iv of 5, and the development of the wave v of 5 has begun, within which the wave (ii) of v is ending. If the assumption is correct, the price will grow to the levels of 122.50–127.80. In this scenario, critical stop loss level is 104.82.
Main scenario
Long positions will become relevant during the correction, above the level of 104.82 with the targets at 122.50–127.80. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 104.82 will let the price go down to the levels of 97.79–85.90.
On the 4-hour chart, the fifth wave of the higher level 5 of (3) develops. Now, the local correction of the lower level has formed as the wave iv of 5, and the development of the wave v of 5 has begun, within which the wave (ii) of v is ending. If the assumption is correct, the price will grow to the levels of 122.50–127.80. In this scenario, critical stop loss level is 104.82.
Main scenario
Long positions will become relevant during the correction, above the level of 104.82 with the targets at 122.50–127.80. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 104.82 will let the price go down to the levels of 97.79–85.90.
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