WFC trade ideas
WFC to Long, Demand Zone WFC to Long, Demand Zone
Existing Condition:
1. Monthly Demand Zone
2. Daily Demand Zone
3. Trendline Break
Entry below 24.2
Stop : 23
Target1: 29; risk/reward=1:4
Target2: 32, risk/reward=1:6
I am not a PRO trader. I need few 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.
Counter-trading Warren Buffet : BUY WFC .Warren Buffet recently reduced his exposure to banks stocks .
How about counter trading him ?
How about being greedy when he is fearful ?
Options Idea: Sell The Sep 18 2020 WFC 22.5-20 Put Spread @ 0.34WFC is in a long-term downtrend, but wants to reverse course. There is a resistance around the $24 area that has held except in mid May when WFC made its 52-week low at $22 and then bounced quickly back the next day to close at $24. I'm going to sell a Bullish Put Spread at the 22.50-20.00 strikes. Since we are in a downtrend I'm going to play it safe and I'm not going to sell naked just in case WFC wants to make a new 52-week low during the next two months. This is a negative probability trade (expected loss > expected win), so it may not be for everyone.
20-WFC-01
Opening Date: July 29, 2020
Expiration Date: September 18, 2020
DTE: 51
IV: 44.94%
IV Percentile: 59%
Odds of Winning: 73.74%
Odds of Max Loss: 12.38%
Win: > 22.16 @ Expiration
Loss: < 22.16 @ Expiration
Reg-T Margin: $250
Chart Legend
Green Area: 100% Win Zone. If we finish above or in the green area, we keep 100% of our initial credit. The size of the green area is the size of credit (our maximum win).
Yellow Area: Danger Zone: We still win, but we have to give back some of the initial credit taken in.
Red Area: If we finish in this area we have a loss. The size of the red area is the size of our maximum loss.
1 standard deviation, 2 standard deviation, 3 standard deviation projections from Opening Date to Expiration Date are included.
WELLS FARGO ( For Invest ) Long termWells Fargo is a company that for the long term will have some good moves. You just have to wait patiently. Always be on the lookout before buying the possible S&P500 Crash.
We must also take into account several fundamentals with this type of company. When they bring out a digital currency, we must see its evolution and what relationship these companies will have with them. If they are going to be involved? they will have good results, but if they are excluded from participating in the Crypto Coin? They will be very high risk companies.
I hope you can make a profit
Double Bottom ABC BullishPossible stop below 23.3
Targets 2: 38 to 42.5
This one has had a rough time
Not a recommendation
High Probability trade on Wells Fargo WFCThis Bear Credit Spread is a high probability trade that I am taking in my Options Service.
WFC round 2Waiting patiently, looks like it consolidated one more time and is ready for the move. First stop looking to break the update $26 volume shelf. See if we can get a move later this week.
Bullish On WFC Build up of a tight consolidation Zone around the descending triangle.
RSI Oversold.
Momentum at an increasing pace of the price level seems buyers are willing to buy.
Big bull candle on a daily time Frame.
My opinion breakout may happen next week.
This is not an financial advice. Chart is based on my idea.
WFC (Wells Fargo) The Comeback It is a rough time for many banks, But that does not mean it is necessarily going to stay like this. With Warren Buffet currently increasing his stakes in the BAC (Bank of America), Whom also holds large similar stakes in Wells Fargo with both being extremely similar especially on the charts. We could actually see Wells Fargo stock vastly increase, Now i am not saying it isn't going to be a bumpy ride with the current stop and starting of the economy worldwide but quite frankly because of Wells Fargo poor performance it has provided a great opportunity for investors. So to wrap it all up if Wells can catch up with the Bank of America (BAC) in the pre provisioning operating profits then the stock value could nearly double providing a great investment opportunity. Whilst provision charges can fluctuate violently through the cycle, pre-provision profit does not flex to anything at the same extent. When provision charges fall away after a recession, The bottom line starts to improve rapidly which is what we could see happen in the upcoming weeks/months/years.
Disclaimer: I am not advising anyone to take any trades nor do i bare responsibility for any losses, Furthermore I am only sharing my analysis & speculation for you to make your own decisions. Do your own analysis and use the correct risk management. Dont bet the house.
Wells FargoFor my own edification. Not trading advice. DYOR...
Wells Fargo looking like a Buy. Touching into support zone + RSI oversold. Looking to add to position and Sell August Puts. Reassess as it approaches resistance ~$26
Trade 4 - WFC CallsI should let one of these run longer, but updating to the next trade on same rules:
This exercise is still about removing emotion and just following a set of rules.
3 - $1.18 WFC $26.5 calls for 8/28
Rules:
1. No earnings plays (WFC post earnings)
2. No increasing/averaging down, use a stop loss of 20-30%
3. Charting based on triangles/ wedges and SMAs (10/20 crossover for this one, with the 10 day actually rising not 20 day decreasing)
4. At the money/near the money (check)
5. Risk/reward 1/3 or greater (If a move tests the 50 day, that's a $38-39 PT which would be well above range)
6. Buy 45 days out approx.
7. After the first week, get out and reassess if it still hits all these criteria (plan on holding longer than the previous two trades)
Trade 1: BA call $250 to $480 ($130 net)
Trade 2: ARMK call $435 to 435 ($0 net - still $480 principal)
Trade 3: MGM call $435 to $315 ( -$120 - $360 principal)
Trade 4: WFC call $354 to ... ( )
WFC - 1H - 21.07.2020 (17.07 Follow up)#WFC -1H - 21.07.2020 - Ready, set...
After a brief skid this monday, price broke our second downtrend with a solid bullish candel (Economic fundamental causes behind it). Hopefully, the beginning of new tendence.
If we look at closely our Ichimoku cloud indicator, we will find that tenkan (convertion line) crosses upward Kijun (base line) when the price is above the cloud. According to the rule book of our friend Mr. Ichimoku, this is equivalent to a strong buy signal entry.
Tomorrow will be crucial to consolidate a 25.90 - 26.10 price range. After that, we can start thinking about the firt medium term resistance at 30 USD.
Only one I'm in nowA lot of uncertainty out there, but into next week this is my favorite chart right now.
Have a great weekend!
