JP Morgan (JPM) bounced back from 50D MA resistance and also 23.6% Fibonacci Retracement Resistance at $40.3 and punched through the neckline at $37.70 yesterday. Need to monitor whether this selling momentum is str0ng enough to confirm the Double Tops. I believe other traders are watching this level closely and prepared to short sell when this double tops is confirmed.
- Post author:Marubozu
- Post published:June 30, 2010
- Post category:JP Morgan Chase (JPM)
- Post comments:0 Comments
Tags: Double Tops