WFC trade ideas
WFC reversal.Gapped up with the rest of the banks on earnings but had some stiff resistance on weekly 50/200 EMA.
Selling pressure was significant along with daily candle structure.
4hour RSI you will see Bearish divergence .
Short entry - Below Yellow trendline or 43$.
First target -42$ gap close or blue line.
Second target - White tredlndline or 40$
Earnings watch 10/14/22Earnings watch 10/14/22
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Short term short on Wells Fargo. WFCThis is very short term. Closed on the downward impulse, bouncing off the 5th wave origin. Down we go, it's like ping pong in here.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
WFC - Brink Of CollapseWFC looks like its about to collapse here with this expanding correcting ascending channel breaking to the downside followed by today's bounce that looks like a last short squeeze before headig down.
Hitting long term resistance and also topped 0.786 from previous thrust candle.
I just entered a first position and have a second at the top of the gap.
Stop above top.
Not advice.
Interest running out on $WFC-RECAP🔸️Ticker Symbol: $WFC timeframe: 1 Hour 🔸️3X Bear Pattern 🔸️Investment Strategy: Short
TECHNICAL ANALYSIS: I posted this short position on the 18th.. it took only two days to play out; and those who took this trade doubled their investment. Not only did we have a divergence on our money momentum, which was moving out of the market, but we had a rejection on the extended linear regression channel, and a swing failure pattern at our 1-hr supply level on 17 Aug. This was a perfect setup, with a risk/ reward at 8:1. Everyone in the group took major profit using these indicators!
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WFC Run or FallOverall indications, WFC is looking bullish. Currently trading at 45.35 I believe will have a nice run up to 46.49 to 47.50. Currently Trading above the 200, 50, and 20 EMA. Our Trendsi Indicators shows bullish momentum and I don't see WFC slowing down just yet. Come Monday I see a nice push towards or pass 46.49 area before retracing back down to the 45 range to act as a support. I would love to hear your thoughts and feed back. Any critiques and criticism is always welcome.
Interest running out on $WFC🔸️Ticker Symbol: $WFC timeframe: 1 Hour 🔸️3X Bear Pattern 🔸️Investment Strategy: Short
TECHNICAL ANALYSIS: $WFC is about retest 46.26 for the third time this week, and with the overall market looking weaker, I am looking for short positions on this ticker. Money momentum making lower high's, and price "stuck" at the low $46's and every time money momentum gets into this red band, more often than not we get a rejection. Now time for that gap fill from last week!
WELLS FARGO- BEARISH SCENARIOThe bank earnings season continues with Wells Fargo. The San Francisco-based bank is expected to earn $0.80 per share on revenue of $17.5 billion, or less than a year ago quarter.
Re-test of the resistance is expected followed by a deep dip to the $ 33 support level.
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Wells Fargo share to discount -15.8%, WFC $33.50Wells Fargo stock chart on a week time scale highlights a bearish setup, that on a micro-level has been confirmed by the downward revised guidance issued by the bank.
In terms of the chart, becomes possible to see how both weekly candles have shaped a hanging man, with resistance at the Tenkan line, in a downtrend channel already where the stock price trendline,
has already confirmed the sell signal below the IKH Senkou A/B cloud.
Wells Fargo's stock price trendline should drift lower on $37>$33.50