This post is being reproduced from an earlier post in ZYX Buy Change Alert.
J.P. Morgan (JPM) is the strongest bank in the U.S. and perhaps in the world.
Yesterday JPM reported earnings . The stock first spiked up and then went down with the market. The CEO Jamie Dimon was very optimistic on the call Earnings report of a large international bank is very complex. After reviewing the earnings report and the conference call.
JPM is a new very long-term buy recommendation. JPM also offers about 2.7% dividend.
FLY IN THE OINTMENT
JPM is a constituent of Dow Jones Industrial Average and a big part of S&P 500. If the overall market goes down, JPM will go down. This is the reason why we are recommending limiting the maximum size of the position to 35% of the full core position size at this time.
If the overall market falls, after reassessment there may be an opportunity to add to the position at lower prices.
ZONES
The buy zone is $38 to $41.11. Consider entering GTC limit orders.
Target zone is $65 to $70.
Stop zone is $24-27.73.
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