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This Pattern Forming On $JPM Every Investor Should Be Aware Of

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

The stock chart of JPMorgan Chase & Co. (NYSE:JPM) has the beginning of an ominous bearish formation. It is known as a head and shoulder pattern. It is important for investors to know that it is not fully formed. Only when it fully forms and breaks the trend line connecting the lows (known as the neck line), does it trigger. If/when it triggers, investors should expect a decline from $84 to $74. This is not a good sign for the financial sector and could speak to problems arising. One thing to keep an eye on is the housing/financial crisis beginning in Canada. Many bank stocks in Canada have fallen double digits, some as much as 60% in recent months. If this were to spread, investors could see banks here with exposure, collapse sharply. Keep an eye on this head and shoulder pattern and if it breaks to the downside. JPMorgan Chase & Co. may be in trouble.

Stock chart head and shoulder pattern on JPMorgan Chase & Co


This article was written by ST G for on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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