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JPMorgan Chase is a long term Buy but a short term Sell PDF Print E-mail
Written by Will Peters   
Tuesday, 10 August 2010 09:28

JPMorgan Chase & Co offers spread traders an interesting dilemma.


For those looking for a good spread trading opportunity JPMorgan Chase could be worth a look. In the short term spread traders could consider selling the stock, while those more inclined to going long could look at buying the stock.

Brokers at Barclays Capital have suggested JPMorgan Chase is undervalued at current levels, however a look at the charts suggests a short term sell.

JPMorgan Chase & Co is undervalued at current levels say the equity analyst team at Barclays.

Barclays Capital have set a target price of 60 on JPMorgan Chase shares, that is 50.68% higher than at last night's close.

However, for those more inclined to technical indicators the shares could be headed lower.

According to spread betting firm Delta Index JPMorgan Chase has witnessed a sell signal in the form of a MACD Crossover.

Delta advise a sell at 39.90 with a stop set at 41.74, and profit should be taken at 36.45.

For those looking for a buy on a technical basis Delta have flagged up MasterCard Inc.

The MasterCard charts have shown a MACD & Triple Moving Average Crossover.

Delta Index suggest buying MasterCard at 21532, setting a stop at 20156 while initially targeting 24255.

World markets slid Tuesday on signs China's economy continues to slow and ahead of a Federal Reserve meeting that may bring new measures to prop up sputtering U.S. growth.

Shanghai stocks led the retreat after China's July trade figures showed a big drop in the growth rate for imports — an indication that rapid expansion in the world's No. 3 economy is cooling.

Beijing has clamped down on a boom in bank lending and construction, eroding demand for raw materials like iron ore and other commodities from overseas. Economic growth slowed from the first quarter's 11.9 percent to 10.3 percent in the second quarter.
 

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