WFC
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!
WFC Short IdeaWells Fargo has earned itself quite the rap sheet over the last 4yrs, and this is only the stuff that they've been caught with. - finance.yahoo.com
Q3 & Q4 2019 Earnings both missed expectations, and a lower guidance for 2020 has been provided.
If they can maintain expectations at or above their lowered 2020 forward looking guidance, maybe this uncompleted H&S will result in their favor.
However, I am not confident that they are not losing customers every day currently and that it won't be reflected in share price within the upcoming quarters.
It already is looking like the suspected H&S pattern will complete with a swift down move to follow, only time will tell though.
Keeping an eye on this one for prospects of opening a short after further confirmation.
WFC traces out an H&S, currently forming the right shoulderWFC has been consolidating over the past five years, tracing a potential H&S pattern on the monthly chart. The 43 area has been the should support, holding up so far. If situation deteriorates with the company’s financials, regulatory remedies, and a recession, potentially the stock could puncture the 43 support area and decline further. The H&S target is in the low 20s near 2010/2011 support zone.
Happy Trading!
WFC - DAILY CHARTHi, today we are going to talk about Wells Fargo and its current landscape.
As nowadays we live in a consumerist society and access to a credit card has continually become easier to obtain, is reasonable to predict that the card debts are also going to rise too, as financial education isn't the strong point of U.S consumers, and are used to the debt culture.
The heat up U.S economy put credit card companies in a more comfortable zone as the unemployment rate remains near to historic lows, which helps customers to keep up with their bills. However, the question that worth to be raised here is, if the 90 days past due card debt is probably surging to 2.01%, the highest level since 2010 amid a heated economy, what is going to happen with this type of debt, once the U.S economy make its first downward movement of correction and make harder for customers pay their credit card bills. Even with the credit card issuers tighten their credit standards, we can't be sure it's going to be enough to avoid a crisis on the sector, which could lead to a flood of bad debt, decline of new credit card issuance and other types of liabilities. This scenario could mean concerning news for Wells Fargo if the company doesn't progressively start to deploy the proper countermeasures for this scenario.
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WFC In Falling section of high risk & low profit 19-JUL
www.pretiming.com
Investing position: In Falling section of high risk & low profit
S&D strength Trend: About to begin a rebounding trend as a downward trend gradually gives way to slowdown in falling and rises fluctuations
Today's S&D strength Flow: Supply-Demand(S&D) strength flow appropriate to the current trend.
Forecast D+1 Candlestick Color : RED Candlestick
%D+1 Range forecast: 0.9% (HIGH) ~ -0.7% (LOW), 0.0% (CLOSE)
%AVG in case of rising: 1.2% (HIGH) ~ -0.6% (LOW), 0.5% (CLOSE)
%AVG in case of falling: 0.7% (HIGH) ~ -1.5% (LOW), -1.1% (CLOSE)
"Joe's earning season preview" EP02 : Let's Rock'n roll!The earning season already take places!
Let's check out the major names that will have their earning report this week with me yo!
Mon: C
Tue: GS, JPM, JNJ,WFC,UAL, IBKR
Wed: ABT, BAC, NFLX
Thur: MSFT, MS, UNH
and I got only 20 minutes so I didn't record down Friday names like AXP, BLK, and SLB!
Let's see how they go this week yo!
Wells Fargo looking southLike nearly all the other financials on Wall Street did NYSE:WFC not enjoy Friday. Gap up above the prior high, but then the turnaround. Which, in combination with the uninspiring volume lately, makes me a shortie with a nice RRR of 4.5. But beware of the earnings on the 16th.
Daily WFC forecast timing analysis by Supply-Demand strength21-Jun
Investing strategies by pretiming
Investing position about Supply-Demand(S&D) strength: In Rising section of high profit & low risk
Supply-Demand(S&D) strength Trend Analysis: In the midst of an upward trend of strong upward momentum price flow marked by the temporary falls and strong rises.
Today's S&D strength Flow: Supply-Demand(S&D) strength flow appropriate to the current trend.
View a Forecast Candlestick Shape Analysis of 10 days in the future: www.pretiming.com
(You can easily create a trading plan.)
D+1 Candlestick Color forecast: GREEN Candlestick
%D+1 Range forecast: 1.2% (HIGH) ~ 0.0% (LOW), 0.8% (CLOSE)
%AVG in case of rising: 1.3% (HIGH) ~ -0.5% (LOW), 0.9% (CLOSE)
%AVG in case of falling: 0.5% (HIGH) ~ -1.2% (LOW), -0.6% (CLOSE)
Price Forecast Timing Criteria: Price forecast timing is analyzed based on pretiming algorithm of Supply-Demand(S&D) strength.
WFC forming a Head and ShouldersPossible Head and Shoulders pattern forming on WFC though too early to tell. The biggest test will be the trend line (black). If the stock breaks down expect a retest of the trendline before finally completing the H&S pattern. Based on how long the stock has adhered to the black trendline a break down would be a long-term bearish signal.
Note where the entry point is. Make sure the H&S is complete before entering. The unfilled gap is still lingering.
The two targets on the chart are past points of resistance and good places to take some profits.
Wells Fargo & Company bearish ahead of earnings.Looking at WFC Morgans chart.
The SQZ indicator continues to turn hard green. Indicating further down side.
The stock has been ascending on descending volume. Bearish sentiment.
The MacD is about to have a bearish crossover.
The chart follows the bearish sentiment that is seen across the market.
WEllS FARGO has more to lose, but is my bankWEllS FARGO has more to lose but is my bank. I would be looking for a buying opportunity around 48.65, but for now, I'm selling a tiny position on it.
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