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Financial Stocks Dip Early, Watch These Levels



February 07, 2012 – Comments (0) | RELATED TICKERS: JPM , BLK , GS

J.P. Morgan Chase & Co (NYSE:JPM) is considered the leading financial stock in the United States and possibly the world. This morning, JPM is coming under some early selling pressure. This important financial stock is trading lower by 0.42 to $37.72 a share. Short term traders can watch for intra-day support around the $37.55, and $37.40 areas. The daily chart of JPM is still very strong and the stock remains in an uptrend.

Some other leading financial stocks that are declining lower today include Goldman Sachs Group Inc (NYSE:GS), Morgan Stanley (NYSE:MS), and BlackRock Inc (NYSE:BLK). Traders should remember that when the markets trade with such light volume as they have recently; support levels usually present buying opportunities.

Nicholas Santiago

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