JPM JP Morgan Chase Stock Chart 1-8-20
JPM has broken the bullish order flow that began in October but the stock price has not confirmed a change to a bearish bias.
The close on the lows sets up a terrific opportunity to look for a new long today.
I'm placing a limit order to bid for stock in the $134.25 area. To be clear I want a lower opening for the trade to work. If the stock opens higher I am not looking to buy stock.
Game planning for a test of the previous high of $141 as my initial profit target.
Pete