Many of the large U.S. bank stocks are holding up despite Wednesday's early morning sell-off. Financial giant JPMorgan Chase (NYSE:JPM) traded lower by just 0.05 cents on Wednesday and has been consolidating on its daily and weekly charts. Remember that when a stock consolidates or forms a sideways base, it's looking to move higher in the near future.
I Like JPM
JPM is on my radar for a potential long-side trade, and while the consolidation pattern may not be complete, the potential upside is north of $120. Other bank stocks that have similar patterns include Wells Fargo (NYSE:WFC) and Citigroup (NYSE:C).
Bottom Line? JPM looks the best to me.