Our analysis of the JPMorgan Chase (JPM) stock, utilizing the Rising Wedge method, indicates a potential downward trend in the near term. The Rising Wedge is a bearish pattern and often signals a reversal in the uptrend, especially when formed in an overall bearish market context.
The current trading price of JPM is around $142.32. Considering the bearish trend indicated by the Rising Wedge, a Put Option could be a strategic play here. We recommend selling at a strike price of $141.30.
Following this potential downtrend, a Call Option could provide an excellent opportunity to capitalize on subsequent market adjustments. Please stay tuned for further analysis and specific Call Option strategies as market conditions evolve.