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
I am seeing bullish ascending/asymmetrical triangles forming on BAC and C, and rising wedges on WFC and JPM's hourly charts. Predicting positive reactions to economic data and interest rates in the upcoming weeks.
CNBC has loved to refer the recent pullback in the SPX as the "Dimon Bottom" because CEO Jamie Dimon purchased roughly $26 million worth of JPM shares. However, it's not looking for those wanting to hold to believe in the recovery dream. Whether investors want to believe it or not, the U.S. economic cycle is rolling over; and, considering the very high...
WFC seems to tell us that the big scare was actually just a correction within a bull market. The right look suggests WFC is on its way to new high. We even have the rule of alternation with wave 2 being an expanded flat while wave 4 is a simple ZigZag. The only thing I don't like is within the zigzag both wave are sharp. Usually one is a surprise to everybody...
BAC Bearish Bat pattern is still valid as the price consolidates inside the PRZ, below two broken uptrend lines. As the markets await Yellen and the Fed, Financials are stuck and that clearly being reflected in BAC's chart. If the price will attempt to rally and test the X zone (18.5$) it will complete a small Butterfly pattern that will add chances that we...
Despite Yesterday's rally in the stock markets, $BAC's Bat pattern wasn't violated as the price remained inside the PRZ, The fact that the price climbed above the Fast SMA line and created a minor uptrend line is a bullish signal but as long as the price remains below the broken major trend line and below X (18.5$) the bearish scenario is still valid. Assuming...
Put sale is near strong support , trend line and 200 SMA - with decent premium.
Today, 10,000+ WFC Mar 20 $56 calls traded with the vast majority being bought for $0.35-$0.45 each, against no previous open interest. For every put that traded in the session, 2.5 calls traded (18,568 total). Talk of a Fed Funds rate hike later this year is bullish for financial companies like Wells Fargo and the stock remains relatively inexpensive. WFC...
Both $JPM and $WFC are on bearish potential. WFC is very bullish stock all the time, but I am expecting for down move correction. JPM is more on bearish pattern. it has Bearish Gartley , Bearish wolf wave and Crown Pattern Resistant. $SPY is hovering down and I am expecting for down move for correction.
Once an issue breaks to the downside (A) there comes a time where we get a snapback rally bear channel (trendlines, B). upon the completion of the B wave in most cases its bombs away to the downside.
$WFC has been downgraded from Buy to Hold by some analyst. I am expecting WFC dive to $49 -$47 area. yesterday daily bearish bar is good reason for bearish move.
The fattest cat on Wall St. seems to be flying a bit under the radar these days. Wells Fargo & Co (NYSE:WFC) has been quietly rising to become the biggest banks in the world by market cap during 2014. Surprised? Well check out these stats... Considered one of the most conservative banks in the United States, Wells Fargo & Co (NYSE:WFC) has moved up from fourth...