Wells Fargo: Chart showing possible continuation of Bull trend
Updated
This is a long term set up, that will most likely take sometime to confirm. Price has made a double bottom at the 200 weekly period moving average. In addition we are forming a falling wedge. The size of the wedge suggests that if it does break it could be a significant move to the up-side.
The candle of the week 02-08 tested the highs made in 2008 as support, an additional strong bullish sign.
We can also see that buying volume has picked up in the past week. Will be monitoring this stock for a breakout.
The candle of the week 02-08 tested the highs made in 2008 as support, an additional strong bullish sign.
We can also see that buying volume has picked up in the past week. Will be monitoring this stock for a breakout.
Note
Wanted to add that for an ideal long position on stocks I want to see the market confirming a continuation of a Bull trend. Note
Possible that this wedge has broken out. Heading towards 2015 highs?
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