Here’s how to buy $JPM and $GD with managed risk – September 9, 2024
Dan Fitzpatrick here at StockMarketMentor.com. I have a couple of new stocks that I thought I’d add to our Active Trade List, one of them is JPMorgan ( NYSE: JPM ), and the other is GD, General Dynamics ( NYSE: GD ).
I’m going to start with JPMorgan ( NYSE: JPM ). Here, I would be buying JPMorgan ( NYSE: JPM ), let’s say, right here at 217.00. And I would put a stop right at 209.00, something like that. The idea for buying this here is because I think this stock is going to hold up.
This 50 is going to hold so I’m risking about 3.7 percent. What I’m looking for is a move above 230.00 on this uptrend in a topping interest rate environment. That’s what I’d be looking for in JPMorgan ( NYSE: JPM ).
Then GD ( NYSE: GD ), I’m buying this on a breakout at, we’ll say, 302.00. And because the idea is, this breakout is going to hold, I’m going to go ahead and set a stop down here. A tight stop on both of these because it’s a heavy market, just below the 21-day moving average at 294.40, something like that.
These are two trades that I’ll be putting on today. I’m just giving them to you because everybody needs something to do, and so why not have it be the right thing?
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