Wells Fargo about to pivot hard imoThis one looks overdone...If I am correct about the DXY and 10 yr yield pivoting then this should be a catalyst for the banks to pull back hard.
WFC trade ideas
4,000 Banks Remain Below March Crisis Level Out of the approximately 4,000 banks in the United States, it seems like JP Morgan is the only bank from this top 4 banks we are seeing here that has climbed back up from the March banking crisis. The rest are still well below their March levels. What about the other thousands of banks?
Is inflation fear over?
We observed an improvement in the CPI numbers, which reached 3% recently. However, the PCE number is what the Fed is concerned with, as it is still hovering around its high point.
The banking crisis in March was triggered by rising interest rates, and the long term yield or interest rate trend suggesting more upside to come.
How can you determine if the fear of inflation still lingers and is leading to further interest rate hikes? One indicator is an inverted yield curve, where the shorter-term or 2-year yield is higher than that of the 30-year government bonds. Take a look at the following chart.
The upper window represents the cash market, which is not tradeable. The lower window represents the futures market, where we can use it to hedge and trade.
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WELLS FARGO: Important bullish breakout.Wells Fargo crossed on Friday over the HH trendline that was in effect since April 19th, invalidating it as a Resistance and instead giving form to a Channel Up pattern that is supported by the 1D MA50. The 1D technicals are bullish (RSI = 69.130, MACD = 0.870, ADX = 27.314) and even though the nearly overbought RSI will required a technical pullback in order to harmonize it, on the long term this Channel Up should test the R1, so we are bullish (TP = 48.85).
If the price crosses under the S1 (42.10), we will sell and target the S2 (TP = 40.35), where the HL trendline should also support on the long term.
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Wells Fargo & Company (WFC) Shares in Wells Fargo & Company (symbol ‘WFC’) incurred losses in the second quarter of the year and is currently down around 9% compared to the 1st of March. The company is expected to report earnings for the quarter ending June 2023, on Friday 14th of July before markets open. The consensus EPS is $1,16 compared to $0,74 in the same quarter last year.
Antreas Themistokleous at Exness: “ Wells Fargo & Co. closed $6.52 short of its 52-week high ($48.84), which the company reached on February 14th after 3 consecutive days of losses. The company's shares slipped by around 1% on Monday where the SPX was up around 0.24% and DJIA +0.62%. New allegations from its staff about racial bias comes to add to a troubling history of scandals for the bank. On the financial side with a balance sheet of $1.88 trillion in assets and $1.7 trillion in liabilities as of 31/12/2022 the company seems to be holding above water for now.”
On the technical analysis side the price is trading just above a major technical support level of the 20 day moving average and the 50% of the weekly Fibonacci retracement level. The next major support area seems to be around the $40 area which consists of the psychological support of the round number, the lower band of the Bollinger bands as well as the 50 & 100 day moving averages.
The MACD oscillator shows that the MACD line is on the move to cross below its signal line, possibly pointing to bearish sentiment building up with the potential targets in the areas of support mentioned above. Although this does not mean that the crossover will inevitably happen so no single indicator is capable of giving out reliable “signals”.
WFC Wells Fargo & Company Options Ahead of EarningsIf you haven`t sold WFC here:
or bought it here:
Then Analyzing the options chain of WFC Wells Fargo & Company prior to the earnings report this week,
I would consider purchasing the 42.5usd strike price Puts with
an expiration date of 2023-8-18,
for a premium of approximately $1.42.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
Going down?Just check out the chart. It is worth to open a small short position tomorrow. Price may take a few weeks to drop, it its also probable that price attempts a few more times to break up. I would add if a see a strong sellers reaction.
WFC - Falling Trend Channel [MID -TERM]🔹Strong development within a rising trend channel in the medium long term.
🔹Double bottom formation and given signal of further rise to 47.78. Support at 42.24 if NEGATIVE reaction occur.
🔹Between support 40.50 and resistance 46.00.
🔹Technically slightly negative for the medium long term.
Chart Pattern;
🔹DT - Double Top | BEARISH | 🔴
🔹DB - Double Bottom | BULLISH | 🟢
🔹HNS - Head & Shoulder | BEARISH | 🔴
🔹REC - Rectangle | 🔵
🔹iHNS - inverse head & Shoulder | BULLISH | 🟢
Verify it first and believe later.
WavePoint ❤️
WFC to the dirt NYSE:WFC : WFC just made a 61% retracement below 200 ema with 5/13 ema cross over on the daily for a target of $39.98
Bearish Alert : WFCNew bearish alert on the hourly chart.
It comes together with a descending triangle.
Waiting for a new relative low after the bearish crossover.
Short WFCI am bearish on Wells Fargo. This stock can not break above 200 Moving Avegra. I think it could dip into $40
WELLS FARGO Stock Chart Fibonacci Analysis 060723 Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 40.7/61.80%
Chart time frame : B
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : A
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the bottom
D) Hit the top
Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern.
When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point.
As a great help, tradingview provide these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved.
If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks.
If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
WFC (Wells fargo) On the verge of a major breakout.
Obvious double bottom with the right bottom forming an ascending triangle.
Rsi is also coiled and looking bullish
XLF has broken out already
Entry - over 41.75
Stop loss - 41.00
1st target - 43.84 gap close
2nd target - 46.61
Wells Fargo SHORTSome weeks ago we have published analysis on the WFC stock where we explained that more downside is likely:
This time, we have a pleasure to show you analysis on lower time frame.
We expected more downside as the chart indicates a bearish sentiment as it forms a double top pattern.
Entree at 40.79
Stop-loss at 42.58
Taking profit at 36.55
WFC,10d+/20.22%rising cycle 20.22%
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This data is analyzed by robots. Analyze historical trends based on The Adam Theory of Markets (20 moving averages/60 moving averages/120 moving averages/240 moving averages) and estimate the trend in the next 10 days. The white line is the robot's expected price, and the upper and lower horizontal line stop loss and stop profit prices have no financial basis. The results are for reference only.
Wells Fargo $WFC going for a dive, 2.6 R:R short I'm looking fornot a financial advice, my position based on my analysis and bias.
WFC Head and ShouldersWFC Head and shoulders pattern. Currently seeing it everywhere,the biggest banks/financials/Transports, on the planet. JPM, GS, BAC, IYT, VTHR
Wells Fargo (priced in gold) just looks TERRIBLE.40 year paradigm shift breakdown line
Wells Fargo (priced in gold) just looks TERRIBLE.
Remove the fiat illusion, price EVERYTHING in gold.
confirmed breakdown
#gold #silver
Wells FargoWells Fargo's momentum is DANGEROUSLY close to full meltdown.
Priced in gold, you can see the WEAKNESS even more.
#WellsFargo #gold #xauusd #BankingCrisis #inflation
Wells Fargo - Tred line Break downWells Fargo has broken down the long term trend line and also retested the same.
It can be shorted on rise below the trend line for a short term profit.
Note: This is for educational purpose.
TopSwing : WFC : UpdateThe price failed to move to new highs even after the bullish cross of our EMAs.
It is now pointing back to the previous lows with the help of the 21h and 50h
$WFC with a bullish outlook following its earnings #StocksThe PEAD projected a bullish outlook for NYSE:WFC after a positive under reaction following its earnings release placing the stock in drift A with an expected accuracy of 100%.
WFC short - bearish retestWFC looks bearish.
The rising wedge broke down and it's likely to see more downside on WFC.
Enter short position at the bearish retest.
Targets are shown on the chart.
Invalidation of the thesis would be if the price comes back and closes successfully above the upsloping resistance .
WfcHuge reistance around 42$ as we come up here to backtest the bear flag breakdown. Based off this pattern if we confirm the reistance retest. Kiss of death … target off this bear flag is 23$. If we just measure the width of the bearish uptrending channel as a breakdown then the target is 32$ c either way this will take some time to play out so if we short 42 and go a few months out on it this should give a solid 10$ move down at least
