The bullish DailyPlay we chose for Tuesday March 13th is J.P. Morgan (JPM). JPM is part of the Financial Sector (XLF). Over the last month, XLF has experienced an 8.98% move higher and its 1m and 6m trend has turned bullish on 3/5 and recently bounced higher off its $28 support level.
J.P. Morgan’s 1m and 6m trends turned bullish on 3/5 while breaking above its $117 resistance level which now becomes support. With a technical score of 9 (out of 10), JPM is a strong bullish stock that will likely continue higher.
As a stop loss, if JPM was to trade below $117 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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