JP Morgan Stock Code JPM.NYS
Outlook
Price fell as a result of a decline in Treasury yields declining to a 15-month low. Price may have hit a temporary bottom at $98 and could be recovering from this low. We believe this is likely to be a corrective rally and a good opportunity to get into a short position. Resistance lies at the edge of the cloud as well as the Base line at $103.30. Fibonacci 50% correction point of the decline from $108.50 to $98.03 comes in at $103.20, which is very close to the Base line resistance. MACD has turned bearish.
Strategy
$103.20 Short Sell
$98.00 Price Target
$104.80 Risk Management Stop
3 weeks Trade Duration
Advanced Micro Devices Inc. Stock Code AMD.NAS
Outlook
Price is currently above the cloud and is supported by the Base line at $24.56. Conversion and Base lines had a bullish crossover as well, hinting of a bullish trend. From the low of $21.02, a rally brought price to $28.11 and there has been a decline to $24.56. This is also near to the Fibonacci 62% of the rally. There should be one more rally to breach the $28.11 high. MACD is still bullish and its faster line is approaching the Zero line. This is a hint of a corrective decline in current price movement.
Strategy
$24.82 Buy
$28.50 Price Target
$23.99 Risk Management Stop
3 weeks Trade Duration
