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Do Not Short $JPM Until It Breaks This Point

|Includes: JPMorgan Chase & Co. (JPM)

There is a clear support trend line that has formed on JPMorgan Chase & Co. (NYSE:JPM) over the last three weeks. The stock keeps hitting it and bouncing up. This tells smart investors and traders to stay away from shorting the overbought financial stock until it breaks the trend line to the downside. Then investors and traders can short JPMorgan Chase heavily for big profits. Once the trend line breaks, it will collapse down to $80. The trend line break will occur at any daily close below $85.75. In other words, with a daily close on Thursday at $86.11, it is very close. Check out the stock chart below for a visual.

Investors watch for stock chart break on JPMorgan Chase & Co