Technical Analysis Overview:
4-Hour Chart:
* Trend: JPM remains in a steady uptrend, testing the resistance zone near $247.5-$248.
* Indicators:
* MACD: Bullish momentum continues, but histogram shows signs of slowing.
* Stochastic RSI: Overbought at 90, suggesting potential consolidation or pullback in the short term.
30-Minute Chart:
* Price Action:
* JPM is consolidating just below $247.5, aligning with the highest positive NETGEX.
* Support at $245 is holding steady, showing buyers’ strength in the zone.
* Volume: Moderate volume, indicating cautious buying at these levels.
Key Levels to Watch:
Support Levels:
* $245: Immediate support, aligning with the 3rd CALL Wall.
* $237.5: Significant support zone and HVL.
Resistance Levels:
* $247.5-$248: Key resistance, coinciding with the highest positive NETGEX.
* $250: Next major resistance level, aligning with the 2nd CALL Wall.
* $255-$260: Long-term resistance, highlighted by CALL walls.
GEX Insights:
Key Gamma Levels:
* Positive Gamma Walls (Resistance):
* $247.5: Highest positive NETGEX and immediate resistance.
* $250: 13.56% GEX10 (2nd CALL Wall).
* $255-$260: Significant resistance zones (29.69%-28.59% GEX).
* Negative Gamma Levels (Support):
* $245: Strong support, backed by the 3rd CALL Wall.
* $237.5: HVL and support, aligning with key gamma levels.
Options Metrics:
* IVR: 50.5, indicating relatively high implied volatility.
* IVx: 32.5, below average, suggesting moderate price fluctuations.
* Call/Put Bias: Calls dominate at 3.1%, signaling a cautious bullish outlook.
Trade Scenarios:
Bullish Scenario:
* Entry: Above $248 with volume confirmation.
* Target: $250-$255.
* Stop-Loss: Below $245 to limit risk.
Bearish Scenario:
* Entry: Rejection at $247.5-$248 or breakdown below $245.
* Target: $237.5-$235.
* Stop-Loss: Above $250 to control losses.
Directional Bias:
* JPM’s consolidation below $247.5 indicates a critical resistance zone. A breakout above $248 could signal further bullish momentum toward $250-$255, while a failure to break higher might lead to a retest of $245-$237.5.
Conclusion:
JPM is testing a significant resistance level near $247.5. A breakout above this level could lead to bullish continuation, while a rejection might bring consolidation or a pullback. Traders should closely monitor price action and volume for confirmation.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always conduct your research and trade responsibly.
4-Hour Chart:
* Trend: JPM remains in a steady uptrend, testing the resistance zone near $247.5-$248.
* Indicators:
* MACD: Bullish momentum continues, but histogram shows signs of slowing.
* Stochastic RSI: Overbought at 90, suggesting potential consolidation or pullback in the short term.
30-Minute Chart:
* Price Action:
* JPM is consolidating just below $247.5, aligning with the highest positive NETGEX.
* Support at $245 is holding steady, showing buyers’ strength in the zone.
* Volume: Moderate volume, indicating cautious buying at these levels.
Key Levels to Watch:
Support Levels:
* $245: Immediate support, aligning with the 3rd CALL Wall.
* $237.5: Significant support zone and HVL.
Resistance Levels:
* $247.5-$248: Key resistance, coinciding with the highest positive NETGEX.
* $250: Next major resistance level, aligning with the 2nd CALL Wall.
* $255-$260: Long-term resistance, highlighted by CALL walls.
GEX Insights:
Key Gamma Levels:
* Positive Gamma Walls (Resistance):
* $247.5: Highest positive NETGEX and immediate resistance.
* $250: 13.56% GEX10 (2nd CALL Wall).
* $255-$260: Significant resistance zones (29.69%-28.59% GEX).
* Negative Gamma Levels (Support):
* $245: Strong support, backed by the 3rd CALL Wall.
* $237.5: HVL and support, aligning with key gamma levels.
Options Metrics:
* IVR: 50.5, indicating relatively high implied volatility.
* IVx: 32.5, below average, suggesting moderate price fluctuations.
* Call/Put Bias: Calls dominate at 3.1%, signaling a cautious bullish outlook.
Trade Scenarios:
Bullish Scenario:
* Entry: Above $248 with volume confirmation.
* Target: $250-$255.
* Stop-Loss: Below $245 to limit risk.
Bearish Scenario:
* Entry: Rejection at $247.5-$248 or breakdown below $245.
* Target: $237.5-$235.
* Stop-Loss: Above $250 to control losses.
Directional Bias:
* JPM’s consolidation below $247.5 indicates a critical resistance zone. A breakout above $248 could signal further bullish momentum toward $250-$255, while a failure to break higher might lead to a retest of $245-$237.5.
Conclusion:
JPM is testing a significant resistance level near $247.5. A breakout above this level could lead to bullish continuation, while a rejection might bring consolidation or a pullback. Traders should closely monitor price action and volume for confirmation.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always conduct your research and trade responsibly.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.