Jpmorgan
JPM Defensive stock!Warren Buffett’s Berkshire Hathaway (BRK-A, BRK-B) just revealed its recent stock moves and the “Oracle of Omaha” is making a big bet on financials.
During the third quarter, Berkshire Hathaway snapped up a new position in JPMorgan Chase (JPM) of 35.6 million shares, making it the 10th largest stock holding.
It’s notable because the 88-year-old investor has publicly praised JPMorgan’s CEO Jamie Dimon for years, but had not owned the stock. A huge fan of Dimon’s annual letter, Buffett told Yahoo Finance’s editor-in-chief earlier this year that he made a “mistake” not investing in the bank’s stock.
“I should’ve ,” Buffett said at the time. “Very obviously. I mean, it’s been a terrifically run operation. And it was very cheap, just like a number of others were.”
JPM - POTENTIAL EXPANDING CORRECTION ON THE MAKINGJPM seems in the middle of a long term correction. It could be an expanding triangle or a flat correction. Look to the price action on the lower channel for a potential bounce.
JPM Set to Bounce After EarningsJPM reached a support level consistent with a trend line dating back to June 2017 and RSI just dropped below 30 - indicating oversold conditions. In addition - JPM is set to benefit from increased interest margin. JPM will also increase it's share buyback program following earnings, which will increase volume and the likelihood of a price increase.
JP MORGAN IS LOOKING BULLISH ON D1* Some indicators are looking bullish on D1
* "TD Count" has been started to count green.
* Cloud is a strong support area for this stock.
Bullish for this week.
Timing the Next Market Top; Don't Wait Too LongI keep narrowing my projection for the top of the market as more days elapse and more data comes in. I have been contrarian to the 'pundits' and still strongly believe the market will top before the end of 2018. I am right now projecting a near-term top to occur by the end of this week or beginning of next week around 2930. This will wrap up intermediate wave 3 which is presently in minor wave 5, minute wave 5.
I have intermediate wave 4 ending down around 2841 around October 5, 2018. After that, the final market top should occur between November 1 and November 16, 2018. The final top should occur slightly above 3000. I initially forecasted the top above 3100, but do not see the top occurring higher than 3070. All of these moves can be monitored in the interactive chart below. The white box was one of my more recent projections, but the green box is my current forecasted zone for the top.
I recently published my article detailing 8 stocks that have been great forecasters of market tops. These symbols indicated the tops in 1987, 2000, and 2008. The full article is free as always at ElliottWaveIdeas.
JPM: Top of range reversal to $106The yield curve is flattening in hurry with the Turkey crisis and that is baaad for US banks. JPM is reversing off the top of a well established channel with MACD confirmation. Downside target of $106 gives a potential 7% return. Do note I am not advocating a straight line decline to the bottom of the range. Moves within channels are generally ABCD formations so trade accordingly. Other mega US banks like BAC and WFC are exhibiting roll-overs from lower highs with similar risk reward profiles so there are a few options out there.
BAC SHORTBAC (and the rest of the banking industry) has a rough few months ahead. The major institution has seen solid gains over the past year and is about to relinquish them all. The major indication this downtrend is about to pick up steam is seen as the 50 day moving average is ready to cross below the 200 day moving average, a major bearish sign known as the death cross. Price on the weekly candle has managed to close significantly below this intersection point, a sign that a significant decline could come sooner than later as there is very little support below the current price. Seen on the chart above, RSI is also headed south with no sign of retracement anytime soon. Money Flow is in a steep downtrend as well. I anticipate BAC seeing at least a 20% decline in the coming months. The last time BAC had a similar set up with the 50 day moving average crossing over the 200 day moving average, the stock fell 33% in 6 weeks. I have picked up November and December puts for BAC (and JPM because the chart and my prediction is basically the same).
JP Morgan in the spotlight before earnings report on 13/07/2018This Friday 13/07/2018 three of the main USA Banks are releasing quarterly results #JPM #C #WFC,
The Banking sector is experiencing positive fundamentals that have been driving the spike of their stocks in recent months:
1. USA Interest rate hikes : according to Bloomberg research, for each 1% that USA increases the interest rate level Banks like Bank of America will be benefited with extra revenue of USD 5,6 Bn.
2. Corporate tax cuts : Donald Trumps´s December 2017 corporate tax cut approval down to 21% is boosting USA Banks tax savings, according to Associated press those savings are reaching USD 3,6 Bn.
3. Deregulation : Donald Trump is willing to continue softening USA Banks regulation, such as the Volcker rule. USA Regulators already started rewriting one of the most debated Dodd Frank´s rule.
• JP Morgan is expected to release USD 2,24 EPS (Nasdaq.com), +23,07% compared to the previous results of USD 1,82 EPS.
• On the April´s 2018 quarterly result the volatility increased up to 603 pips.
Key point:
Now as shown in the chart, JP Morgan is facing a great technical momentum trading above the USD 102-104 range support as well as above two FIBO 0,382 & 0,236.
If the earnings market mover is not able to drive JPM stock clearly below the USD 102-104, I see JP Morgan with a technical bullish momentum above USD 102.
Adrian Lopez de Armentia - EFA
Earnings season for the US banking sector is openingEarnings season for the US banking sector is turning into an active phase tomorrow. Two largest banks - JPMorgan and CitiGroup – will publish their financial statements for the second quarter. This will happen on Friday July 13, 2018 before the market open.
Our expectations for the stock market from the current earnings season are quite optimistic, and as for the US banking sector, they are doubly optimistic.
Let's start with the fact that recently the financial results of corporation act as a catalyst for the growth of American stocks. Here are just a few of the most typical examples: after the publication of the previous financial quarterly report, Apple shares went up by 5% in just one day and increased by 10% during the next week. On the shares of Facebook, everything was even more dynamic - shares during one (!) day grew by 10% (!). Shares of Amazon grew by 15% in just 3 (!) days.
As for the banking sector in general and JPMorgan and CitiGroup in particular, despite the negative reaction of the markets to the quarterly results last time (the results, by the way, were better than the forecasts), we consider the existing conditions to be almost ideal for qualitative and quantitative growth of financial indicators of these banks. This is primarily about the growth of US interest rates, which allow banks to increase their margins and, accordingly, to increase earnings. In addition, Trump's tax reform and the general economic state of the US allow us to expect another excess of expert forecasts from JPMorgan and CitiGroup.
We also note that both banks are characterized by an aggressive dividend policy. And if JPMorgan has long been yielding dividends at 2% per annum, CitiGroup has intensified only recently. But how they became much more active. The growth of dividend payments amounted to almost 200% (!). All this is a serious additional argument in favor of buying shares of JPMorgan and CitiGroup.
Given that the financial results will be published tomorrow BEFORE the opening of the market, the decision on the trade must be taken now. Both shares are near the lower boundaries of their medium-term ranges. So, the prices for purchases are ideal. As for the growth prospects, in both cases we are talking about +/-10% returns (without the leverage). So, in our opinion, these trades (buy JPMorgan and CitiGroup shares) are extremely attractive from all positions, both technical and fundamental. Our recommendation is the purchase of shares of JPMorgan and CitiGroup today from the current prices. Because tomorrow it may be too late.
JP Morgan Chase + US30, using one chart to forecast another Price action of JP Morgan Chase has been converging, failing to make new highs and now testing daily trend line for the 4th time, which is also in line with 200 SMA. A 38% retracement level is below, but major support is $102, where price previously gapped higher in November 2017.
A break lower could be seen as a short opportunity or the price will bounce higher and stay within a pattern for now to test it on the upside.
JP Morgan Chase is, of course, included in US30.
Overlaying the US30 (blue line), we can see incredible similarity between the two charts. JP Morgan Chase, being one of the oldest today and biggest banks in the world, controlling such enormous amounts of capital is very reflective of the US30 chart. In fact, it seems that US30 can give signals to what the JP Morgan price action will do a couple days earlier.
This is a great example of using other charts to help with the forecast of others. Since we were hit by the trade war tensions again and markets started selling today, it sent US30 down over 1%. Seeing US30 break support levels could give early signal to the break of the JP Morgan on the downside. Alternatively, if US30 bounces up, we could see the same on the JP Morgan chart.
Happy Trading!
ZEC Bull ZEC appears to have just entered it's bull cycle in terms of BTC
It also looks like a beautiful market cycle in the USD pair
Just bought a small position and will double it if ZEC gains 10%
15% Stop (soft stop)
100% TP
They're partners with JP Morgan, need I say more?
JP Morgan new high is near youNew high will not be late as a month for finance sector. $120 and more is a little range for JP Morgan Chase & Co.
JPM: ABCD Completion with upside target to $121.60Couple of harmonic completion in JPM:-
#1 The Feb to Mar butterfly formation which resulted in...
#2 An extended ABCD down move to 106.
#3 Price reversal with heavy volume on the 138.2% extension of the #2 ABCD which...
#4 Happens to be the 78.6% retracement level (higher low) from the 6 Feb low.
All these leads me to think JPM is about to make a move up to try a new high at $121.60, c.+9% upside. This is earnings season, all the volatility in global markets should = great trading results for JPM & fellow banks = pop in share price = Feds raise rates = +ve feedback loop on banks' share price. If you have not closed your shorts since my last post on the ESA, it's still not too late to do so.
QASH-The Calm Before the StormQSHBTC formed very nice triangle and it is very possible to break this triangle if we get enough volume. If you see we had almost the same pattern early this year-however at this time we had very high volume. Considering that the team behind Qash is testing Worldbook platform which is an integral part of Liquid Platform at the end of April it is very possible to expect high volume in upcoming weeks. Therefore I call QASH-The calm Before the Storm.
P.S For your information Liquid is a platform where will combine many different exchanges globe the world. According to Quione team they already have partnership with 17 different exchanges.
GoldmanSachs ready to shine..? This is one of my shorter time scale predictions heading into the earnings reports coming up.
With all the volatility we have managed to open a couple of more postions during the beginning of the week that are already in the green, these are set with a x1 leverage on our PI profile on eToro (Willscuba).
We currently have a reducing wedge but have seen some drawdowns recently to geo-politics. Making this a good time to increase our exposure by a small margin.
The earnings report is due April 17 before the bell.
The whisper on the street is $6.03 where as the consensus is $5.67.
If the numbers come through better than expected for JPMorgan due this friday before the bell then that should start the ball rolling for all the other financial sector stocks that we are currently holding as they usually trade in sympathy if the first few do well -unless there is a really big red herring that crops up-.
Even if the earnings disapoint we still have almost 20% free in the portfolio to capitalize on the dips that could occur just like we have with all the trade war news and potential rate hikes.
NYSE:GS
Bearish pattern on the financialsYou can see here that financials have put in a series of lower low's. Often in such cases, we see retracement back into the original range. If you are looking for a short opportunity entering at the 50% level with a downside target at the 1.6 extension level would offer a reasonable risk/reward ratio. With the midterms coming up, I would expect a low prior to election day.
BTC POTENTIALPlease look at this ive only done TA a few weeks and would appreciate constructive opinions. This looks like it has major potential and im not sure which way or how to scale extent of how much potential
