WFC potential on downtrend - Bearish
WFC most likely on downtrend especially after it break out from the support line of Double Top pattern.
Can notice that it is having high selling volume on date 20 Dec & 21 Dec which break out the support price 40.92 USD. This is a initial signal that it is bearish on WFC for future direction.
However if the price move upward which higher than the orange resistant line (41.92), this mean the downtrend is not yet confirm
Thus, for those interest to take the risk can consider :
Short position : 40.95 USD
Stop Loss: 41.92 USD (Risk 2.42%)
Note that “Past performance does not guarantee future performance. This is for just my personal opinion but not trading advise.”
Can notice that it is having high selling volume on date 20 Dec & 21 Dec which break out the support price 40.92 USD. This is a initial signal that it is bearish on WFC for future direction.
However if the price move upward which higher than the orange resistant line (41.92), this mean the downtrend is not yet confirm
Thus, for those interest to take the risk can consider :
Short position : 40.95 USD
Stop Loss: 41.92 USD (Risk 2.42%)
Note that “Past performance does not guarantee future performance. This is for just my personal opinion but not trading advise.”
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