JP Morgan Chase Co.: wave analysis
11 December 2019, 08:36
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 134.52 |
| Take Profit | 140.00, 144.00 |
| Stop Loss | 129.55 |
| Key Levels | 110.50, 120.07, 128.49, 140.00, 144.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 128.40 |
| Take Profit | 120.07, 110.50 |
| Stop Loss | 131.20 |
| Key Levels | 110.50, 120.07, 128.49, 140.00, 144.00 |
The trend is upward.
On the 4-hour chart, the fifth wave of the higher level 5 of (3) develops, within which the wave iii of 5 forms. Now, a local correction of the lower level has developed as the wave (iv) of iii, and the fifth wave (v) of iii is forming. If the assumption is correct, the price will grow to the levels of 140.00–144.00. In this scenario, critical stop loss level is 128.49.
Main scenario
Long positions will become relevant during the correction, above the level of 128.49 with the targets at 140.00–144.00. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 128.49 will let the price go down to the levels of 120.07–110.50.
On the 4-hour chart, the fifth wave of the higher level 5 of (3) develops, within which the wave iii of 5 forms. Now, a local correction of the lower level has developed as the wave (iv) of iii, and the fifth wave (v) of iii is forming. If the assumption is correct, the price will grow to the levels of 140.00–144.00. In this scenario, critical stop loss level is 128.49.
Main scenario
Long positions will become relevant during the correction, above the level of 128.49 with the targets at 140.00–144.00. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 128.49 will let the price go down to the levels of 120.07–110.50.
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