WFC BOTTOMED FOR NOW ?
EVERYONE AND THEIR MOTHER IS BEARISH ON WFC . IT JUST COMPLETED A SHARK HARMONIC PATTERN. IMO ITS BOTTOMED OUT FOR NOW. GAINS ARE COMING . BUY THE FEAR DON'T MISS OUT.
WFC trade ideas
LONG WELLS FARGO WFCWells Fargo WFC has been hit by the Covid-19 crisis more than its' peers Citi, JPM or BAC. Now pricing at 27$ which is very close to the Support level.
We also filtered this by looking at their fundamental ratios.
$WFC Well Fargo to $30.50
Well respected Fib Channel in play, nice bounce off the bottom and has founf local resistance at the .236 level.
Moving average crossing bullish
Wells Fargo TAWells Fargo - A triple bottom price formation with a potential to head back up and retest its previous highs if it holds above 25.60
Wells Fargo - trouble?Wells Fargo is in an extremely delicate moment right now. The U$ 28.88 (blue line) seems to be the most important price region, where it was tested several times as support and resistance alike.
The prices are in a support region at the moment (pink line), but the loss of this region could make the prices drop to lower levels (orange or red line). It would be a very risky buy, not worth in my opinion, because we lack bullish signals here. Also, there is something that seems to be a Head and Shoulders pattern (red circles), which is a bearish pattern, but I would wait for a pullback to short the stock. It is very dangerous times and is better be safe than sorry.
WFC to Long, Double bottom patternExisting Condition:
1. in 60 min, down trendline break by breakaway Gap (G1, G2)
2. Double bottom reversal pattern
Entry below 27.5
Stop below the bottom: 26
Target1: 33; risk/reward=1:3
Target2: 37, risk/reward=1:6
Predict: Runway Gap (G3);
This is a trading school homework. I need 6 months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
Coronavirus DepressionYet another stock feeling the pressure of the coronavirus economic collapse of the markets.. the worst since the great depression of 1932...
WELLS FARGO & COMPANYI'm in a hurry to make it, so I'm writing briefly).
Open M5 TF
If the price fixes the level, I will enter the short with a very short risk.
Wells Fargo Before EarningsI simply marked down some interesting levels in the past to watch before they report earnings next week.
Back to test lowsBusiness Insider reported that WFC won't be partaking in nearly as much of the $2 trillion stimulus from Trump as expected because the Fed capped WFC's lending limit to small businesses at $10B from their 2018 debacle. Sounds big enough to suppress stock prices so I think continue to chop. Should the Fed reverse positions, this could easy retest the kumo. This play would be a scalp if anything.
Wells Fargo Set for correctionWells Fargo, once the worlds largest bank, by market capitalisation, has entered into my short zone.
The bank has been in turmoil in the last couple of years with numerous lawsuits for fraud and unethical practice but the share price has not corrected from this news (As Warren Buffet was the largest shareholder).
However, the markets have finally started to correct in our favour and have entered into our short zone.
Amazing Risk to Reward ratio: 1:10
SL: 3.5% loss
TP1: 34% gain
WFC to Long, V pattern formedExisting Condition:
1. in 60 min, down trendline break by breakaway Gap (G1)
2. Formed V reversal pattern
Entry at demand zone: 29
Stop below this zone: 28
Target1: 35; risk/reward=1:5
Target2: 40, risk/reward=1:10
This is a trading school homework. I need 6 months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
In my real trade, I use options. I bought Jun C35 Call, limit 1.3; None stop.
Sum of my ideas:
5 active, 7 winner, 1 loser, 0 pending for condition;
4 analysis only, 8 cancelled;
WFC - 3 key levels to look out forHello everyone, WFC is going to see even lower lows, due to the Covid - 19 and the financial crysis. The levels it will fall to are 15, 10 or 8 $, I think though 10$ makes the most sense. I would say anything bellow 15$ is amazing entry, WFC has great fundamentals, so it will for sure see new highs, just wait for next year around March - May for entry. Good luck to everyone!
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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