-Financial Tools Futures Market--TRADE IDEAS-- OPTION ALERTS -BENZINGA PRO-

« Home | Stocks to watch Thursday - Elan Corp, Marvell Tech... » | The 5 Most Expensive Photographs ever sold » | Hot stocks for Wednesday - Watson Pharmaceuticals ... » | Stocks to watch Tuesday - Yahoo, Powerwave Technol... » | AC Investor Blog has a new record of visitors! » | Stocks to watch next week - Rambus, Dendreon Corpo... » | Most expensive cars in the world » | Hot stocks for Friday - Ciena, Rambus and LDK Solar » | World blackout on March 28 (Saturday between 8:30p... » | Hot stocks for Thursday - American Italian Pasta, ... » 

Thursday, April 02, 2009 

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

Labels: ,

Bookmark and Share

Contact

About Me

    Photobucket
  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

  • Benzinga.com supporter

    Benzinga.com supporter



    FREE NEWSLETTER

      Enter your email address:

      Delivered by FeedBurner

      Subscribe my feed :

    Support AC

    • Support AC Investor Blog, Donate with PayPal

    Advertising

      Interested in advertising on AC Investor Blog ? Click Here

    TRANSLATOR

    Site Information

    Stock Market Blogroll

    Friends BLOGROLL

    ARCHIVES

Powered by Blogger
and Blogger Templates


Add to Google