May 20, 2024 08:45 PM 0 Answers
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Hey Marty,

How about a comment on JPM, buy list

JPM This stock has been consolidating in a base for six week and is trading near a buy point of $200.94. The company held an investor day on Monday where their CEO Jamie Dimon discussed his possible departure and retirement. He was also pretty negative saying he is "cautiously pessimistic."  Typically, at an investor day the CEO will put a positive spin on the business. However, that did not happen at JP Morgan.

The stock dropped on his comments and traded down to its 21ema on Monday. The stock traded from $205 down to $195 on his comments. I expect the stock to find support at its 21ema and bounce. The financial stocks have been strong and JP Morgan is certainly a leader in that group. If you are looking to enter that stock then Jamie Dimon did us a favor as I would rather buy at $195 than $205.





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