JPM short trade updated chart

28 Oca 2021

Here is the updated chart on JPM short trade I have posted on January, 12th. Brief pop above the resistance level to clear out any shorts. Turning around and dropping down below which proves to be a bull trap. From there, pretty steady down trend day after day. Today, hitting the first target. 10.5% down from the high. Next target is 117.20ish level and reaction is likely once it gets there. I expect a gap down tomorrow and hitting that second target pretty quick given the current market posture. Around $104.50 seems like a good support and that seems like a pretty good swing target and which will be around 26% from the high. How bullish the overall sentiment is, I can see very quick rush to the exit once it turns.

Have a good trade everyone,

T.