I've been anticipating a solid return on JPM because they're both a retail bank and an investment bank, and if their traders are better than me (I have no idea?) they would have posted HUGE returns for Q1 2019. I picked up right before the congressional testimony, and the bank CEOs did not disappoint me in their handling of the congressional grilling.
All technicals are strong, and the RSI just barely peaked into overbought territory. However, with such strong earnings, I expect them to continue to rally with some good old fashioned post-earnings announcement drift. Volume spiked, and I anticipate this rally only getting started. MACD looks strongly and the average divergence is only widening. ADX shows a trend beginning to form, and DI+ shot up diverging strongly from DI-.
I wish I had published this idea sooner, but I'm glad I've been holding since early in the week already.
All technicals are strong, and the RSI just barely peaked into overbought territory. However, with such strong earnings, I expect them to continue to rally with some good old fashioned post-earnings announcement drift. Volume spiked, and I anticipate this rally only getting started. MACD looks strongly and the average divergence is only widening. ADX shows a trend beginning to form, and DI+ shot up diverging strongly from DI-.
I wish I had published this idea sooner, but I'm glad I've been holding since early in the week already.