$JPM Day chart shows price is in an emerging pattern that has a completion target of 73.53 to 75.81, bulls are banking on gettiing there.  There are variables to consider, first bulls needs some conviction to hold above 69.03 and second due to expansion, there’s probability of a stall or pull back into support 67.15 to 66.2.

The current bias is to the upside with the do or die level at 66.20, below there risks shifting the bias to the downside.  However if price can hold above a pullback of 66.2 area or more important above 69.03, the ideal upside target in the world of harmonics is 75.81 and scaling points at 70.91 and 73.53.  The PRZ (Potential Reversal Zone aka the completion zone for a harmonic pattern) behaves not only as a magnet but also a probable rejection region.  Understanding price action is key when testing Significant Levels (where price currently is), GRZ’s (Golden Ratio Zones) and PRZ’s.

Sidenote, $JPM earnings are October 14th, so unless a trader is experienced and successful in trading earnings, it’s recommended to close a position prior to earnings or wait to enter a position after earnings.

Trading involves substantial risk and is not suitable for all investors. Past performance is not indicative of future results.