WFCD trade ideas
WFCLooking for WFC to continue trending up with the financial sector. Seems a larger rotation out of tech is occurring.
Looking for the smaller Elliot wave 3 (purple) to continue up or for wave 4 to start. RSI is a bit hot so may seem some sideways trading/the start of the smaller wave 4 to begin here soon.
Looking to catch wave 3 on the way up or enter on wave 4 just waiting for the chart to decide these next few days.
Overall trend should start to firm up once the larger wave 3 is finished.
Something to Watchno confirmation = no trade
no profit margin = no trade
must get a confirmation on LTF
Either 15M Timeframe or 10M or 5M
we must get a change of trend on those timeframes like price coming into the zone with LL/LH and we need HH/HL To come in!
that's how i enter 99% of my trades
IRON TARIHi guys!
New Iron Condor, check my last trades, and get my script for free!
But I went in trading a strangle, RR is better, because I get out from the losing leg for a lower loss
Enjoy your wallet!
Tari.
WFC Breakout Trade IdeaNYSE:WFC :WFC"]NYSE:WFC
I'm usually not too interested in financial plays... but the sector and especially WFC have lagged in recovery since the early 2020 crash.
Financials overall showing strength this February.
WFC broke out of critical resistance. Also note cup and handle pattern.
Looking for a retest of resistance turned support near $33.50 for another chance at entry.
Potential medium turn play--- looking to approach and surpass $40.
WFC - Cup & Handle breakout playBreakout point - 34
Breakout target - 44
If the price break above 34, the breakout target is 44.
———————————————————
How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Something to Watchno confirmation = no trade
no profit margin = no trade
must get a confirmation on LTF
Either 15M Timeframe or 10M or 5M
we must get a change of trend on those timeframes like price coming into the zone with LL/LH and we need HH/HL To come in!
that's how i enter 99% of my trades
Things to look for today1.27.21 Things to look for today on DXY, Gold, WCF This is about price dynamics.
WFC LongEMA50 Crossed EMA200, Start of Uptrend
Entry 32
Stop 29
Target 40
1/15/2021 Good Earning, Price down.
I am not a PRO trader. I trade option to test my trading plan with small cost.
The max Risk of each plan is less than 1% of my account.
If you like this idea, please use SIM/Demo account to try it.
$WFC with a neutral outlook projected following earning releaseThe PEAD projected a neutral outlook for $WFC after a negative under reaction following its earning release placing the stock in Drift D
If you would like to see the Drift for another stock please message us. Also click on the Like Button if this was useful and follow us or join us.
WFC Analysis Broke through (yellow) line of resistance and set a new high at 30.52. Will look to play something after another breakout of that price level (30.52) to catch newer highs.
is WFC bullish ?Wells Fargo ticker symbol WFC
- On the monthly timeframe a trend line from 2008,2009 Financial crisis to covid crash and price is pouncing back with a strong bullish engulfing candlestick pattern.
- (knowing that 15%~20% is a good indication) Wells Fargo PRICE TO FCF ratio is 3.33% a very good indication to go bullish.
- Book Value per share is 45$ higher than stock price 29$ another good indication to go bullish on WFC.
- WFC intrinsic value is 75$ with 6Y projected FCF and growth rate of 9.5%, WFC is considered to be at discount.
- price declined more than 50% from all times high, happens only every 10 or 20 years.
hold for 5 years or more WARREN BUFFET investing method
Wells Fargo Set to Surge?
The Fed reserve said late Friday it will let allow banks to start buying back stock again, restrictions that were put in place amid Covid 19 back in June of 2020.
With that little bit of fundamental news and the technical charts where Wells Fargo is, we can look for some long entries on this stock.
Our Monthly chart shows a 10-year Support levels near $24 per share with the stock making some bullish progress pre-Christmas.
Looking at support resistance form a linear fashion; we can see price sold a little out of the bearish trend and made a move back into this 10-year regression channel.
Our 4 Hour trend Finder Chart has discovered some bullish movement already and prices closed Thursday Christmas Eve at $29 dollar range.
We see price moving respectfully off of the 20-EMA here. How would we play this? I am not a typical stock holder myself. I like derivatives. I trade Futures and Options. In this case I looked at the options table and checked for the Implied Volatility to make sure that I am not buying expensive premium. Remember, most inexperienced options buyers fail even when the direction is right because they don’t simply know how to check for the premium being fair price or high price.
Now where are my targets? A short-term target is nearby at $33, followed by a long-term target back up around the $50 area. I would prefer to buy a LEAP Option here on the options table and hold this trade in my portfolio.
A January 21, 2022 Call Option $30 Strike near the midpoint bid/ask price of about $4.50 per contract= ($450 per contract). This is a long delta trade, meaning all my premium is the most I can ever lose. I got time (theta) on my side and premium is moderate. Its not the cheapest in the world but it will do simply fine.
I have more ideas I share FREE on my email list if you are not already on it. We work with Futures, Futures Commodities Spreads, and Options ideas.
Well Fargo to fill the gap
Well Fargo is unable to break the 30$ resistance.
Divergence between the RSI and the price = reversal.
Well Fargo have good chance to fill the 24 nov. gap.
Current price: 29.56$
Goal: 26.50$(+3,06$ ) time frame 4 weeks
Stop: 30.50$ (-0.94$)
Reward to Risk ratio: 3.25x
Comments are welcome
Carlos
