JPM earnings higher on fixed-income trading.
The line-in-the-sand for us is $63, the stock is currently trading at that level. We can see on the charts price action has penetrated this level multiple times for both day traders and swing traders to recognize it as a significant reference point.
JPM Earnings: Trading Game Plan Video
Here is the chart prior to the JPM earnings:
Trading JPM Earnings:
JPM earnings were impressive but we want some confirmation before we trade aggressively on the breakout.
When a stock challenges a level multiple times and fails there is a reason, institutions aren’t making a commitment yet. When they do. Price holds comfortably and we see a pause confirming the new level.
We have not seen this yet in JP Morgan. Until I see otherwise, it is a terrific long and according to our trading plan I am a buyer. If it fails I will be leaving it a lone and looking for a better trade.
JPM Earnings News:
JPMorgan delivered quarterly earnings that topped analysts’ expectations on Tuesday, as revenue from fixed-income trading rebounded.
Greg Harmon was recently a weekly guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick.
JPMorgan Chase & Co. (NYSE: JPM) will release its most recent quarterly results Tuesday before the markets open. Thomson Reuters has consensus estimates of $1.38 in earnings per share (EPS) on…
In his annual letter to shareholders, JPMorgan Chase (JPM) CEO Jamie Dimon issued a robust defense of his company against calls for its breakup, arguing that its size gives it the ability to weather future crises. Dimon argued that despite the good-things-come-in-smaller-packages attitude of many of JPMorgan’s critics, more than 500 smaller banks went bankrupt during the last financial crisis, while many larger institutions survived. “Many of