Wells Fargo Co Reversal Potential $wfc
Oversold bounce potential, down 22 from Jan highs.
Upside targets $44.50 & $48.50
RSI is in reversal from oversold levels.
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WFCD trade ideas
WFC Short IdeaWells Fargo has earned itself quite the rap sheet over the last 4yrs, and this is only the stuff that they've been caught with. - finance.yahoo.com
Q3 & Q4 2019 Earnings both missed expectations, and a lower guidance for 2020 has been provided.
If they can maintain expectations at or above their lowered 2020 forward looking guidance, maybe this uncompleted H&S will result in their favor.
However, I am not confident that they are not losing customers every day currently and that it won't be reflected in share price within the upcoming quarters.
It already is looking like the suspected H&S pattern will complete with a swift down move to follow, only time will tell though.
Keeping an eye on this one for prospects of opening a short after further confirmation.
WFC traces out an H&S, currently forming the right shoulderWFC has been consolidating over the past five years, tracing a potential H&S pattern on the monthly chart. The 43 area has been the should support, holding up so far. If situation deteriorates with the company’s financials, regulatory remedies, and a recession, potentially the stock could puncture the 43 support area and decline further. The H&S target is in the low 20s near 2010/2011 support zone.
Happy Trading!
Day Trade: Long WFCBullish MACD and RSI divergences. Targeting $50.70 with stop loss at $47.00. Weekly calls @ 47 strike look fairly attractive.
Wells Fargo bullish is not as strong as it seemsWells Fargo bullish seems to be a one time affairs as theres significant signs of bearish rejection at the supply level near 88.6% of the Fibonacci retracement.
WFC - DAILY CHARTHi, today we are going to talk about Wells Fargo and its current landscape.
As nowadays we live in a consumerist society and access to a credit card has continually become easier to obtain, is reasonable to predict that the card debts are also going to rise too, as financial education isn't the strong point of U.S consumers, and are used to the debt culture.
The heat up U.S economy put credit card companies in a more comfortable zone as the unemployment rate remains near to historic lows, which helps customers to keep up with their bills. However, the question that worth to be raised here is, if the 90 days past due card debt is probably surging to 2.01%, the highest level since 2010 amid a heated economy, what is going to happen with this type of debt, once the U.S economy make its first downward movement of correction and make harder for customers pay their credit card bills. Even with the credit card issuers tighten their credit standards, we can't be sure it's going to be enough to avoid a crisis on the sector, which could lead to a flood of bad debt, decline of new credit card issuance and other types of liabilities. This scenario could mean concerning news for Wells Fargo if the company doesn't progressively start to deploy the proper countermeasures for this scenario.
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i29.Wells Fargo & CompanyBeta-R:Journal. Risk Management: Compound .Level : PA . Time: Short-term - Intermediate . This is just my view follow if it aligns with yours. Ideas are not repeated rather updated.Worry about risk only.
Head and ShouldersIn the following graph we can appreciate the Head and Shoulders pattern. This pattern is known for being a reversal pattern as shown coming from an upward trend in the first shoulder (point A), reaching the peak and the head (point C) and ending on a downward trend on the right shoulder (point B). Also the base of the pattern is known as the neck line. I recommend going bearish in this position with the loss set on the size on one of the shoulders and the profit on the size of the head as depicted in the short position.
WFC! GO!Hi everybody! Thought I'd point this out! Going long WFC at 50.59, target is 52.99! It could struggle a bit around the $51 mark, so this isn't the very greatest one I've ever seen, but it looks really good! So we may pull back just a tad around 51, or not! LOL! Anyway have faith that it will happen and stay tuned!
Wells Fargo bearish Cypher short tradeWells Fargo has reached the PCZ of a bearish Cypher, with bearish divergence on the oscillators.
Don't let it fool youIt's not a cup-n-handle; this ticker does this pattern continually for some odd reason. I would treat it as resistance instead; but hey it's just my humble opinion.
Good luck out there!
WFC punting a tiny short position here to hedge investments in the situation the market doesn't like the repo madness and countless other problems.
I would not be surprised to be stopped out and see this go to $55 but the S&P500 is at ATH and the risk:reward for shorting US stocks is therefore high.
WFC bear channelWFC is in a bear channel and it's right at the resistance.Look to sell after the counter trend line break in 1h
WFC Share prices breaks 45.45 barrier WFC - Wells Fargo share prices have a similar path as its peers but more aggressive since stepping into the price channel and making higher highs and higher lows as indicated on the chart. Share prices fell in the opening trades on Tuesday from its previous close at 46.55 to around its lows at 45.45; however, share prices recovered some of its losses and closed the session above 46.09 down 1.03%.
WFC share prices have shown lots of determination in the last two weeks pushing prices up, breaking resistance, and holding above a strong resistance trend highlighted in red on the chart. Share prices need to remain above 45.44 to continue its recovery.
