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Old 09-05-2018, 12:30 PM   Nav to Top  #1
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Default Bank Stocks Show Relative Strength On Sell Off Day $JPM

This morning, many of the large U.S. bank stocks are holding up well despite the early morning sell-off in the major market indexes. Leading financial giant, JPMorgan Chase & Co (NYSE:JPM), is trading lower by just 0.05 cents today. This stock has recently been consolidating on its daily chart and weekly charts. Generally, when a stock consolidates or forms a sideways base it is looking to move higher in the near future. This is a stock that is now on my radar for a potential long side trade. While the consolidation pattern may not be complete the potential upside in the stock is north of $120.00 a share. Other bank stocks that have similar patterns include Wells Fargo & Co (NYSE:WFC), and Citigroup Inc (NYSE:C), however JPM stock looks the best at this time.

Nicholas Santiago
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