Buying JP Morgan Chase shares (#JPM)
JP Morgan Chase is an American multinational financial conglomerate.
On the weekly chart, the stock has accelerated to the upside, likely aiming to reach the upper boundary of its price channel. The target is set at 295.25. The Marlin oscillator has also picked up momentum after crossing into positive territory, suggesting that the price may break above the channel's upper limit.
On the daily chart, the price is trading above both key indicator lines. The Marlin oscillator is edging higher, albeit at a slower pace than the price itself. This divergence increases the risk of a potential reversal but may also support a continued upward movement, as the oscillator's slow ascent delays entry into overbought territory.
To hedge the JPM long, we recommend opening a short position in Kraft Heinz (#KHC).
Kraft Heinz is an American food industry conglomerate.
On the weekly chart, the stock is declining below the balance line. The Kruzenshtern line is not visible due to limited historical data. The Marlin oscillator is heading lower and is now deep in negative territory, which indicates a firm downtrend. The price is targeting the magnetic level of 24.85, the August 2019 low and a key intersection with the lower boundary of the descending price channel.
On the daily chart, the price has accelerated its decline below both indicator lines. The Marlin oscillator reinforces this movement with its own downward trajectory.
