WFC.B trade ideas
Wells Fargo Before EarningsI simply marked down some interesting levels in the past to watch before they report earnings next week.
Back to test lowsBusiness Insider reported that WFC won't be partaking in nearly as much of the $2 trillion stimulus from Trump as expected because the Fed capped WFC's lending limit to small businesses at $10B from their 2018 debacle. Sounds big enough to suppress stock prices so I think continue to chop. Should the Fed reverse positions, this could easy retest the kumo. This play would be a scalp if anything.
Wells Fargo Set for correctionWells Fargo, once the worlds largest bank, by market capitalisation, has entered into my short zone.
The bank has been in turmoil in the last couple of years with numerous lawsuits for fraud and unethical practice but the share price has not corrected from this news (As Warren Buffet was the largest shareholder).
However, the markets have finally started to correct in our favour and have entered into our short zone.
Amazing Risk to Reward ratio: 1:10
SL: 3.5% loss
TP1: 34% gain
WFC to Long, V pattern formedExisting Condition:
1. in 60 min, down trendline break by breakaway Gap (G1)
2. Formed V reversal pattern
Entry at demand zone: 29
Stop below this zone: 28
Target1: 35; risk/reward=1:5
Target2: 40, risk/reward=1:10
This is a trading school homework. I need 6 months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
In my real trade, I use options. I bought Jun C35 Call, limit 1.3; None stop.
Sum of my ideas:
5 active, 7 winner, 1 loser, 0 pending for condition;
4 analysis only, 8 cancelled;
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!
Wells Fargo Co Reversal Potential $wfc
Oversold bounce potential, down 22 from Jan highs.
Upside targets $44.50 & $48.50
RSI is in reversal from oversold levels.
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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!
Day Trade: Long WFCBullish MACD and RSI divergences. Targeting $50.70 with stop loss at $47.00. Weekly calls @ 47 strike look fairly attractive.
Wells Fargo bullish is not as strong as it seemsWells Fargo bullish seems to be a one time affairs as theres significant signs of bearish rejection at the supply level near 88.6% of the Fibonacci retracement.
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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i29.Wells Fargo & CompanyBeta-R:Journal. Risk Management: Compound .Level : PA . Time: Short-term - Intermediate . This is just my view follow if it aligns with yours. Ideas are not repeated rather updated.Worry about risk only.
Head and ShouldersIn the following graph we can appreciate the Head and Shoulders pattern. This pattern is known for being a reversal pattern as shown coming from an upward trend in the first shoulder (point A), reaching the peak and the head (point C) and ending on a downward trend on the right shoulder (point B). Also the base of the pattern is known as the neck line. I recommend going bearish in this position with the loss set on the size on one of the shoulders and the profit on the size of the head as depicted in the short position.
