Tuesday, August 21, 2018 11:59:01 AM
Online Brokers Get Whacked After JPMorgan $JPM Announces Trading App, Watch This Trade Level
This morning, many of the leading online brokerage firms are trading lower after JPMorgan Chase (NYSE:JPM) announced a new trading app. The app launches next week and will allow users to get 100 free stock trades in the first year. If the user trades over the 100 free trade limit then they will be charged just $2.95 per trade. This news is putting pressure on most leading online brokers such as TD Ameritrade Holding Corp (NASDAQ:AMTD), Charles Schwab Corp (NYSE:SCHW) and ETRADE Financial Corp (NASDAQ:ETFC).
TD Ameritrade Holding Corp (NASDAQ:AMTD) is a stock that I will be watching closely over the coming days. The stock is trading lower by 5.39 percent to $56.94 a share. Today, the stock seems to have found support around its 200-day moving average. A failure to hold this key level would indicate another leg lower. The next major support area for AMTD stock will be around the $52.00 area. This level is where the stock was defended in February 2018. Traders should note that this level should be solid for a long side play when retested.
Nicholas Santiago
InTheMoneyStocks
This morning, many of the leading online brokerage firms are trading lower after JPMorgan Chase (NYSE:JPM) announced a new trading app. The app launches next week and will allow users to get 100 free stock trades in the first year. If the user trades over the 100 free trade limit then they will be charged just $2.95 per trade. This news is putting pressure on most leading online brokers such as TD Ameritrade Holding Corp (NASDAQ:AMTD), Charles Schwab Corp (NYSE:SCHW) and ETRADE Financial Corp (NASDAQ:ETFC).
TD Ameritrade Holding Corp (NASDAQ:AMTD) is a stock that I will be watching closely over the coming days. The stock is trading lower by 5.39 percent to $56.94 a share. Today, the stock seems to have found support around its 200-day moving average. A failure to hold this key level would indicate another leg lower. The next major support area for AMTD stock will be around the $52.00 area. This level is where the stock was defended in February 2018. Traders should note that this level should be solid for a long side play when retested.
Nicholas Santiago
InTheMoneyStocks
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