Looking for a non-AI trade? This bank stock is poised for a breakout next week
(See the video above for Jay’s complete chart breakdown.) As a former market maker at the NYSE, one of the drawbacks was that I had to trade the same stocks every single day. However, one of the luxuries was you really got to know how those stocks moved. You may know that feeling watching some of your own personal holdings move from day-to-day, week-to-week and quarter-to-quarter as well. The moves may not always make sense, but patterns develop and these patterns can create opportunities. In that vein, I want to revisit a stock we discussed here in May. While I never made a market in it, it is a stock I personally own — JPMorgan Chase . The first time we mentioned it here, the trade worked very well. Months later, it is giving us another nice risk-reward setup for a near-term trade as it retreated to its longer-term uptrend. Let’s break down the one-year daily chart. Key points: Remains in longer term uptrend Consolidating above its key AVWAP level from 2026 lows Bullish MACD crossover Bullish RSI divergence at recent lows The long play (see chart below) remains the smartest and safest of them all. The trend remains your friend as price holds above $325. We see that old resistance at its 2025’s highs now become support. Short term there’s an opportunity for shares to hold and bounce back towards its highs of $360. The stock has held up much better than its peers and looks poised to lead the seasonal charge higher. As always, we enter with risk management levels in place. If price were to break below the $310 level and the rising 50-week moving average, the trend has changed and we want to exit for now and revisit the trade again later. The next level of support is $280. The good news is the upside potential appears greater than the downside risk. The trend worked for us many times before and we will continue to trust it until proven otherwise. -Jay Woods with Chase Games Jay Woods is the Chief Market Strategist at Freedom Capital Markets. DISCLOSURES : Woods owns JPMorgan personally and with family. All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, or its parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL’S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer.
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