JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) - TradingLounge Day Chart
JPMorgan Nasdaq Equity Premium Income ETF – JEPQ Daily Chart Analysis
JEPQ Elliott Wave Technical Analysis
Function: Major trend
Mode: Motive
Structure: Impulse
Position: Wave 3
Direction: Rally
Details:
The bullish Elliott Wave structure for JEPQ remains firmly intact and is still in the early stages of development.
The current rally is anticipated to surpass the key resistance at $58.54, confirming the strength of the ongoing third wave.
Signs of an extension within wave [iii] point to a potential for an extended bullish rally before encountering a corrective phase in wave [iv].
The $47.14 support level serves as a critical benchmark for any potential pullback scenarios.
Invalidation Level: $44.40
JPMorgan Nasdaq Equity Premium Income ETF – JEPQ Elliott Wave Technical Analysis
JPMorgan Nasdaq Equity Premium Income ETF – JEPQ 4-Hourly Chart
Function: Major trend (Minor degree, grey)
Mode: Motive
Structure: Impulse
Position: Wave [iii]
Direction: Rally
Details:
The Elliott Wave outlook for JEPQ on the 4-hour chart suggests the rally is poised to continue, with a high probability of a gap-up opening.
The breakout above $50.85 provided confirmation for wave [iii] initiation.
We expect strong momentum as the third wave of the third unfolds, with potential resistance emerging around the $57.11 level.
A drop below $49.00 would be concerning and could invalidate the current bullish count.
Invalidation Level: $47.15
Technical Analyst: Simon Brooks
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Conclusion :
- The Elliott Wave analysis for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) highlights:
- JEPQ is advancing within wave 3, indicating stronger upward momentum ahead.
- A gap-up is likely, with targets beyond $57.11 in focus.
- Traders should follow strict Elliott Wave rules and monitor invalidation levels to manage trading risks effectively.