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JPMorgan Chase & Co., Elliot Wave Analysis
8/24/2022 11:59 AMThe price is in a correction and may grow.
On the daily chart, the third wave of the higher level 3 formed and a downward correction develops as the wave 4, within which the wave (А) of 4 formed. Now, a local correction is forming as the upward wave (B) of 4, within which the wave of the lower level A of (B) is forming. If the assumption is correct, the asset will grow to the area of 131.55–139.45. In this scenario, critical stop loss level is 110.45.
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