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JPM - Short Term Opportunity with 60% Upside?

شراء
NYSE:JPM   JP Morgan Chase
Given the tendency of banks benefitting from the periods when interest rates are rising, is JPM going to provide investors an impressive 60% upside at these turbulent times?
Let's look at it in more detail.

Fundamental indicators:
  • Revenue and Profits - demonstrated consistent long-term earnings growth over the past 10 years
  • Profit margin - impressive 31% in 2021
  • P/E - 8.7x which is considerably lower than the current S&P500 ratio, i.e. very attractive
  • Liabilities - no problems with considering this is a banking sector

Technical Analysis (Elliott Waves):
  • Following the correction of March 2020 shares of JPM have been growing but in a very choppy manner which indicates a potential development of an Ending Diagonal pattern
  • Waves 1 to 3 have been already completed and we are observing the shaping of corrective wave 4. It has already entered the space of wave 1 bust just about and it's likely to correct a little deeper
  • Once wave 4 is completed this scenario suggests another zig-zag to the upside before global and very lengthy correction starts, that may last more than 2 years for JPM

What do you think about JPM and its short term prospects?
Also let me know if you would like to see other stocks, indices, Forex or Crypto analysed using Elliott Waves.

Thanks

PS Below is the Educational post about Ending Diagonals

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