JPM is running to its R1 level of $35 per shr. Can we break it and make a run for the $40 per shr level, it appears that we have a W bottom in place with it clearing and closing above the middle of the W point. As you can see there is heavy R1 Resistance - MA indicators are down to flat on this daily chart.
MA 20 = $35 per shr
MA 50 = $36 per shr
MA 200 = $40 per shr
BAC = Bank of American and MER = Merrill Lynch, shareholder have approved a merger of the two companies, over the weekend and this may help with the financial on Monday Dec 8, 2008. Friday running in the financial sector the Big Boys and Girls were pleased to say the least, as there was a major run up in the Financial Sector. Consolidation within the industry mean money is moving around, who will be next?
MA 20 = $35 per shr
MA 50 = $36 per shr
MA 200 = $40 per shr
BAC = Bank of American and MER = Merrill Lynch, shareholder have approved a merger of the two companies, over the weekend and this may help with the financial on Monday Dec 8, 2008. Friday running in the financial sector the Big Boys and Girls were pleased to say the least, as there was a major run up in the Financial Sector. Consolidation within the industry mean money is moving around, who will be next?
