JPMORGAN CHASE & CO.: WAVE ANALYSIS

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JPMORGAN CHASE & CO.: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationSELL
Entry Point142.71
Take Profit100.77, 77.10
Stop Loss151.00
Key Levels77.10, 100.77, 151.00, 170.00, 180.00
Alternative scenario
RecommendationBUY STOP
Entry Point151.05
Take Profit170.00, 180.00
Stop Loss144.75
Key Levels77.10, 100.77, 151.00, 170.00, 180.00

A fall is possible.

On the daily chart, a downward correction develops as the fourth wave of the higher level 4, within which the wave (А) of 4 formed. Now, the wave (B) of 4 has developed, and the wave (C) of 4 is forming, within which the first wave of the lower level 1 of (C) is developing. If the assumption is correct, the price of the asset will fall to the area of 100.77–77.10. In this scenario, critical stop loss level is 151.00.

JPMORGAN CHASE & CO.: WAVE ANALYSIS

JPMORGAN CHASE & CO.: WAVE ANALYSIS

Main scenario

Short positions will become relevant below the level of 151.00 with the targets at 100.77–77.10. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price above the level of 151.00 will let the asset grow to the area of 170.00–180.00.

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