Super League Controversy Creates a Trading Opportunity on JPM The proposal for the formation of a new "Super League" by a breakaway group of top-tier football clubs in Europe has stirred quite the polemic over the past several hours, especially after the name of the U.S. bank JPMorgan was thrown into the controversy.
Leading clubs from England, Italy, and Spain, announced their intentions to create a new competition comprising of some of the world's richest clubs, such Manchester United, Real Madrid, Juventus, and Barcelona, which was the primary cause of the commotion.
The announcement was followed by an immediate outcry from fans denouncing the proposal, viewing it as nothing more than a cash-grabbing idea. It was later revealed that JPMorgan was to finance the Super League with more than $4 billion, helping organise it using an American-style model used in the NFL and NBA.
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Breakdown of the latest developments on the global exchanges
Apr 21, 2021, 8:52 AM GMT
#StockMarket
JPMorgan's Super League Gamble Backfires After Severe Outcry from Fans
JPMorgan's Super League Gamble Backfires After Severe Outcry from Fans
Chelsea Supporters Protesting the Super League.
The proposal for the formation of a new "Super League" by a breakaway group of top-tier football clubs in Europe has stirred quite the polemic over the past several hours, especially after the name of the U.S. bank JPMorgan was thrown into the controversy.
Leading clubs from England, Italy, and Spain, announced their intentions to create a new competition comprising of some of the world's richest clubs, such Manchester United, Real Madrid, Juventus, and Barcelona, which was the primary cause of the commotion.
The announcement was followed by an immediate outcry from fans denouncing the proposal, viewing it as nothing more than a cash-grabbing idea. It was later revealed that JPMorgan was to finance the Super League with more than $4 billion, helping organise it using an American-style model used in the NFL and NBA.
JPM closed yesterday's trading session with a loss of 2.21 per cent, and as can be seen on the 4H chart below, bearish pressure keeps mounting.
The price action is developing a major Descending Wedge pattern, which typically entails likely uptrend continuation. However, the latest developments could change that.
After having broken down below the 100-day MA (in blue) yesterday, the share price is currently testing the lower boundary of the Wedge. If it gets broken as well, then JPM could tumble as low as the major support level at 140.00. The latter is currently converging with the 200-day MA (in red), making it an even more prominent price level.
In contrast, the broader bullish trend could still survive, but the share price would have to rebound immediately and then break out above the upper boundary of the Wedge. In case that the price does indeed manage to complete the Wedge, it would then be able to test the all-time record resistance level at 160.00.
JPM trade ideas
JPM LongWilliam Alligator : the stock is in a bullish position because the candlesticks are above the Teeth, Lips and Jaw, and the lines are “eating with an open mouth”, this indicates that the stock is in a strong uptrend.
RSI : line is under 70, so the stock is not overbought.
Candlestick patterns : there is a bearish engulfing which is a bearish confirmation.
Overall : it can be interesting to take a buy position on this stock because the indicators indicate that the price is increasing. Entry price is higher than the current price for assurance and stop loss is set at -5%.
JPM: Bullish trend ahead of the earnings report
Share prices have breached the resistance trend line at 154.70 after many attempts as indicated on the chart and closed the last session 156.35 up 0.75%.
The major levels to the upside are at around 157.60, 158.70, 160.50, 161.60, 163.40
Support at around 154.70, 152.90, 151.77, 150.00, 148.90, 147.78, 147.00
$JPM Before earningsJPM is looking at a retest of that 160 target I had a few days ago. As expected, algos took profits and it put in a bearish candle at the top. It seems like JPM has been trading inside a very range for a while, and if earnings posted are good, it should break higher, looking at 160 calls that should be paying nicely on this swing. All indicators show a bullish trend to the upside, especially the Stoch RSI. There is a slight bearish divergence on the Ichimoku indicator that is showing near term bearishness. I like this setup to retest the highs at or after ER.
JPM Breakout ImminentJPM, along with other value stocks within the financials, travel, and industrial sectors, have seen relative strength during the recent market sell off. I'd like to see JPM close over 155 for a move up to the low 160s, but seems like it needs to reclaim and bounce from the 20 day EMA first.
$JPM 4/8/2021$JPM is going to be a benefactor in the future eventually when rates rise.
I also like the TA set up they are right above the 50 day MA and following down to the bottom trend line. Looking back on the consolidation they had in November I think they are prime for a little bit of a run up after breaking that resistance it has touched multiple times.
I would buy from here down to $148.61 that's the next big support
PT $170, $175
Cup and Handle Rising wedge Earnings 4-14 BMOJPM has been in several rising wedges and is in another one now. (I did not draw all of them) JPM appears to have pierced the bottom trendline of the rising wedge it is traveling in now. That may be all there is and may not fall any further.
Rising wedges are long term patterns and a security can go a long way inside of one without ever even peeping out. Rising wedges are most often bearish and interrupt supply and demand.
Earnings in a few weeks. I think they are expected to do well.
This stock has definitely outperformed and the chart is bullish, except for that wedge. Strong support can catch price though so do not mean to sound bearish. There is a lot going on in this chart including a possible bull flag.
Not a recommendation.
In a rising wedge you will see a lack of touches at some area, or areas, where price failed to touch trendline. When you draw the upper and lower trendlines, they will converge at the apex. A broadening wedge looks different. A broadening wedge looks like a megaphone and the 2 trendlines become wider and wider as you draw them. A broadening wedge is not necessarily bearish, a rising (ascending) wedge usually is bearish. If you have owned a stock that seems to bounce around going almost nowhere..ie BABA, then you may be dealing with an ascending broadening wedge. No pattern lasts forever though and eventually the broadening wedge will choose a direction. A broadening wedge can make lower lows and higher highs so not always a bad thing, until it hits the top and travels down again. But nothing stays the same forever (o:
Daily Bullish setup of JPM who benefits from the yield surge!US 10Y yield has been surged for a few days. I mentioned why I'm bullish in the related ideas almost one month ago when the price of JPM sat around 150.
Now, it's 160, not bad compared to Tech stocks! It's necessary to include stocks in the banking sector under such circumstance.
As inflation is still low, I recommend to buy the dip until late Q2 when we might see inflation surpass key levels.
JPM (NYSE) - Bullish Trend
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Pra Trading :
- Please care for Money Management
- Have a good psychology
- Do not be hurry to open position and do not do nothing if u see opportunity
- Evaluate and upgrade your trading plan
Execution Strategy :
- Know what you want to buy, see the Fundamental
- Decide that you are on investing or speculating
- Consider what your strategy based on Investing/Speculating
- Make Road Map Of Your Trading Plan
- Decide
a. Entry strategy
b. Cut loss
c. Target of Profit
Post Trading :
a. Do not be sad if you loss or do not be very happy if you win
b. Just become a normal without emotion, Do not put emotion into your trading
c. Evaluate your trading
d. Keep on Learning
e. Be Humble
Idea :
JPM (NYSE) - Bullish Trend
Note :
1. This is just a road map
2. After u know the rod map, u need to decide what is the entry strategy, and exit strategy where we do not explain here. if u will know more, let send us message
3. If your information/knowledge is intermediate, it is very dangerous to do trade.
$JPM Ready to test highs againAlgos have this pinned right at that conversion line and 8 Daily EMA. Flirting with overbought RSI, it has made a steady climb up to higher highs. I've set 160 as a psychological level to break, but the way it has been moving, it could move much higher. $XLF looks strong as well, indication higher highs for the entire financial sector. Targets should be short term, ready for a quick drawback if it fails to break out of these levels.