Seeking Alpha

InTheMoneyStocks'  Instablog

Send Message is a proprietary research, consulting and investment alerts company focused on guiding investors, swing traders and day traders to financial success. Their PPT Methodology is a proprietary blend of price, pattern and time discoveries that has helped produce 216.37% net... More
My company:
My blog:
Rant & Rave - Pro Traders Blog
  • J.P. Morgan Chase & Co Drops, Watch This Level 0 comments
    Aug 19, 2013 10:56 AM | about stocks: JPM

    This morning, J.P. Morgan Chase & Co (NYSE:JPM) is coming under early selling pressure. The leading financial stock is falling after a government investigation was launched into its Chinese hiring practices. The company has also come under pressure recently after the London whale trading scandal lead to two arrests and caused the bank a $6.2 billion loss. Recently, the financial giant agreed to pay $410 million to settle charges with the Federal Energy Regulatory Commission for manipulating electricity prices.

    Today, JPM stock is trading lower by 0.86 cents to $52.42 a share. Day traders should watch for intra-day support around the $51.49 level. This is an area where the stock could see an intra-day bounce. The next major intra-day support level would be at the $50.20 level.

    Nicholas Santiago

    (click to enlarge)

    Stocks: JPM
Back To InTheMoneyStocks' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.