While certain industries such as biotech and internet stocks have experienced some strong selling lately, other industries and sectors have held up quite well.
The 2nd best performing sector over the last 30 days has been the financials, second only to utilities. Obviously it never hurts to look for trading opportunities in the best performing sectors of the market.
A financial that is always in the conversation is JPMorgan. Check out the chart below if you are interested in investing or making a trade on the stock.
The company: JPMorgan Chase & Co.
Ticker Symbol: JPM
Sector: Financial
Industry: Money Center Banks
JPMorgan Chase & Co., a financial holding company, provides various financial services worldwide. The company operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset Management.
Related: Five Star Stock Watch: Netflix
The company was founded in 1799 and is headquartered in New York, New York.
Please take a look at the one-year chart of JPMorgan below with added notations:
A few weeks ago JPMorgan broke through its $60 resistance to a new 52-week high. That same level was briefly tested as support last week and the stock held.
Any future tests of the $60 level should provide support bounces. However, a break below that level would most likely mean a test of JPMorgan's trendline support, which currently sits near $57.
Related: Five Star Stock Watch: Pfizer
JPMorgan is set to release earnings on April 11th, 2014.
No matter what your strategy, or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key.
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