JPM - Possible ST Pullback
JPM will begin to have a pullback in the short term. How severe the pullback will be depends on several factors. News, announcements, sentiments, etc...
In absence of any severe news headlines....
The stock should have a day with a pullback to around the 109 area.
If that breaks, it should go to around the 103-106 area.
100 could set up to be a psychological barrier.
If it is unable to maintain such a price, it will experience a more severe drop. Possible 94-95 price. I don't think it will drop any more than that area.
I give it a 20% possibility of breaking that price point and dropping to 91. 10% possibility of dropping to 84. 3% possibility of dropping to 78.
So for those that missed the rally, this might be another chance to get in under 100.
Note: I do own shares in JPM for the long term which I purchased with avg 84. I am also relatively new to stock investing. So please do your own research.
This is only meant as a way for me to share my thoughts with my friends. My impact from this trade will be 3 cups of coffee, at most. [I only buy shares and don't sell shares in my main portfolio. Also, I have never shorted a stock.] I like to buy when my <10% scenarios takes place.
In absence of any severe news headlines....
The stock should have a day with a pullback to around the 109 area.
If that breaks, it should go to around the 103-106 area.
100 could set up to be a psychological barrier.
If it is unable to maintain such a price, it will experience a more severe drop. Possible 94-95 price. I don't think it will drop any more than that area.
I give it a 20% possibility of breaking that price point and dropping to 91. 10% possibility of dropping to 84. 3% possibility of dropping to 78.
So for those that missed the rally, this might be another chance to get in under 100.
Note: I do own shares in JPM for the long term which I purchased with avg 84. I am also relatively new to stock investing. So please do your own research.
This is only meant as a way for me to share my thoughts with my friends. My impact from this trade will be 3 cups of coffee, at most. [I only buy shares and don't sell shares in my main portfolio. Also, I have never shorted a stock.] I like to buy when my <10% scenarios takes place.
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