clearly in the monthly supply, Short if it goes below.clearly in the monthly supply, Short if it goes below.
Wellsfargo
The downfall of Wells Fargo?FUNDAMENTALLY: BAD SITUATION ALREADY - HOW MUCH WORSE CAN IT GET?
Poor business and regulatory practices are being investigated at WFC. This bodes negatively for the bank, as there is already an admittance of wrongdoing. Such situations have taken a while to sort out in the past (see GS, Citi, DB, BNP, etc.) and have resulted in substantial settlement amounts. The current situation with Deutsche Bank adds fuel to the fire.
WEEKLY CHART REFLECTING POOR FUNDAMENTALS.
The technical situation on the weekly chart looks quite poor: Negative wedge formation since July 2015, death cross in April 2016, downtrend broken this week, volume pickup on the downside, negative MACD cross-over, etc.
FLOW SITUATION ALSO DIFFICULT.
Warren Buffet, who already owns 10% of the bank through Berkshire, cannot buy more stock. He is bound to keep his investment and be unhappy with it or sell his stake... Not very encouraging from the perspective of institutional share-holding at WFC.
WHAT TO DO FROM HERE?
Go short at the current market price.
Price target $40/share.
Stop-loss at $46.
Reward/Risk = c. 2.7x
Barclays PLC GETTING READY TO FILE BANKRUPTCY BY 2022From 2007 high it is going down trend. And now in near future it will re-test the 2009 low around $2.75.(see green line in the chart) If it fails to hold then BCS will go pennies on the dollar. Though you might have missed the maximum profit ratio by shorting but still you guys have some hope as it is only trading around $8 range and soon it will free fall. Good luck to you all. It will be a painful as those trickling down might take some time.
WFC and other Financials Looking Grim WFC has been unable to gain 50.5-51 resistance for months now, and the chart may indicate that it is time to retest lower. the last weekly level retest was 44.59, which bounced strongly and reversed. if 46.6 is lost, we should look towards 43.2 for next support test.
Lower still is 41.65 and 38.03 as well as others, but these levels may not apply for some time
