Bank Stocks to watch : J.P.Morgan Chase and Bank of America
Chart courtesy of www.stockcharts.com ( click to enlarge )BAC - The recent pull back created a great buying opportunity. The stock closed again above the moving averages and is registering a Bullish signal. The 20 day moving average is showing a positive gradient and is rising since the beginning of March. Let’s see whether the stock can gather enough momentum to break through $8.57. If the Bulls are able to push through this level, there will be another rally towards $12.
Chart courtesy of www.stockcharts.com ( click to enlarge )JPM - Here is a 6-month chart of the JPM and we can see the Bear trend for the last 6 months has been violated. In addition, the violation has been confirmed as price came back to find support at previous violated resistance. The stock is currently facing a key resistance at $30. I recommend a buy only when the stock breaches this resistance. A close above $30 would be an early indication that the stock is on a new upward move. Technically, the stock has the opportunity to start new rally as K line is back above D line.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.
That's All Folks. See you on tomorrow.
AC
