With futures up about one percent to kick off Monday morning’s trading session, many blue-chip stocks are showing signs of potential short-term moves out of oversold.
While there are hundreds, or even thousands of liquid stocks for traders to scan through every single day, narrowing the pool down to one high probability stock with profit potential in both green and red markets can drastically increase your success in the stock market.
That’s what I’ve done for you today after analyzing JP Morgan Chase (NYSE: JPM), brought to my attention by TrackStar, on both technical and fundamental levels.
In a press release over the weekend, portfolio manager Emma Cillekens of Barrons stated that while there are dozens of financial stocks in which to invest or trade, JP Morgan Chase is the only financial stock she’s buying shares of due to the company’s history of success and maintaining a strong balance sheet.
In the eyes of financial professionals, I agree with this particular reasoning as JP Morgan Chase is indeed the largest market cap bank on Wall Street, and its shares of stock are highly liquid as well.
In the event that markets trade green today and JP Morgan Chase does as well, I’ll be interested in taking a long position in JPM above its 20-day simple moving average line, which you can find in green in the chart above.
Now, something which really makes me interested in a stock is if it’s possible to make money in green and red markets simply by analyzing the chart, knowing when to get in, and knowing when to get out.
If markets roll over to the downside and JPM trades below its 20-day simple moving average line, I’ll be interested in shorting JPM to the downside.
And of course, I’ll plan on collecting all available profits by the end of the day.
Yours for TrackStar trading,
Davis Martin
America’s #1 Premarket and Day Trader
Disclaimer: This is not investment advice. This article is for information purposes only and opinion-based on financial advisor data across a selection of websites. Investors should be cautious about any and all investments and are advised to conduct their own due diligence prior to making any investment decisions.