OptionsPlay DailyPlay

The bearish DailyPlay for Wednesday, September 30th is JPMorgan Chase & Co (JPM). JPM has experienced a 6.05% loss over the past month as financials continue to struggle.

Fundamental View

  • Revenue growth for 2020 forecasted to be flat to a 3% decline.
  • Further risks of global economic recession and reduced loan activity.
  • Earnings on Oct 13th in 14 days.

Technical View

  • Rally to an area of resistance provides a good short opportunity
  • Weak relative strength, technical score (3 out of 10)
  • Both 1M and 6M trends are bearish