Wells Fargo Rounding BottomClosing out NYSE:WFC short position from 41.33 and looking to go long from 39 range
WFCD trade ideas
WFC Wells Fargo & Company Options Ahead Of EarningsAfter the last price target was reached:
Now looking at the WFC Wells Fargo & Company options chain ahead of earnings , i would buy the $42.5 strike price Calls with
2023-7-21 expiration date for about
$$1.02 premium.
If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Looking forward to read your opinion about it.
WFC...DT (8M/10H)ADDTIONAL INFO:
Big Picture appears to be a downtrend. Here are a few opportunities to capture the short
If you don't have access to leverage to short, then I'd just wait for the opportunity to Buy @ 6.85 โ which will, unfortunately, take a few years. But you should be ready by then...LOL.
SLO @ 46.25
SSO @ 37.70
TP1 @ 33.50
TP2 @ 25.80
TP3 @ 8.00
BLO @ 6.85
WFC short candidateWFC continues its way down. The fact that it looks for financing speaks about some brewing troubles there.
I look to short it, the RR ratio is not great (1/1) but if I am correct, then the price could go further below my initial target.
These are my notes. Adjust size according to the risk taken.
Wells Fargo still attractive given the banking sector situation?Wells Fargo & Company (symbol โWFCโ) share price has been making losses since early March after the fear of a new banking crisis spread throughout the markets after the failures of SVB, Silvergate and Signature. The companyโs earnings report for the fiscal quarter is set to be released on Thursday 13th of April. The consensus EPS for the quarter is $1,18 compared to the result for the same quarter last year of $0,88.
โ The companyโs dividend yield is more than 3% making it a solid dividend pick among the industry while its price-to-book ratio of 0.8x suggests itโs trading at a discount therefore making it a clever pick for investors and traders for the longer term.โ said Antreas Themistokleous at Exness.
From the technical analysis perspective the price is trying on the move for a correction to the upside after finding support on the 61.8% of the monthly Fibonacci retracement level. The Stochastic oscillator is near the oversold levels therefore further supporting the sentiment of the bullish momentum building up. The 50 and 100 day moving averages are still in touch without any clear crossing at the time of this report.
In the event that the bullish movement continues in the near short term then the first point of resistance could possibly be seen around the $41 price area which is just above the 50% of the Fibonacci and also the 20 day moving average. On the other hand if the price continues to the downside then we might find the support area around $35 which is the psychological support of the round number and is also just below the 61.8% of the monthly Fibonacci retracement.
More moves for Wells Fargo to the downside. WFGWave C within a huge running flat, already completed Wave 1-3. There is one more push to the downside to go. Fibonacci gives some ideas for goals.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
Wells Fargo..... It's time to go upWells Fargo..... It's time to go up on the daily...
Supply & Demand
Get ready for Tomorrow.. Let me now how it will goes tomorrow??
WFC bullish divergence Go long18% to be made on daily timeframe if the support holds today
1. RSI DIVERGENCE Daily timeframe
2. Strong support Area
3. 3 to 1 ratio buy opportunity
Entry , SL and TP are shown on the chart.
Good luck
P
* ๐ง๐ต๐ฒ ๐ถ๐ป๐ณ๐ผ๐ฟ๐บ๐ฎ๐๐ถ๐ผ๐ป ๐ฎ๐ป๐ฑ ๐ฎ๐ป๐ฎ๐น๐๐๐ถ๐ ๐๐ต๐ฎ๐ฟ๐ฒ๐ฑ ๐ถ๐ป ๐๐ต๐ถ๐ ๐ฝ๐ผ๐๐ ๐ถ๐ ๐ป๐ผ๐ ๐ณ๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น ๐ฎ๐ฑ๐๐ถ๐ฐ๐ฒ. ๐๐น๐๐ฎ๐๐ ๐ฐ๐ผ๐ป๐ฑ๐๐ฐ๐ ๐๐ผ๐๐ฟ ๐ผ๐๐ป ๐ฎ๐ป๐ฎ๐น๐๐๐ถ๐ ๐ฎ๐ป๐ฑ ๐ฟ๐ฒ๐๐ฒ๐ฎ๐ฟ๐ฐ๐ต.
WFC shortshort set-up:
- 250D upward trend broken
- several scenario's possible (continuation - ranging before further down) but likelihood of lower prices is very high.
- range-low in combination with further stress in banking sector
- targetting covid lows
WFC Bear Flag BreakBear Flag broke down and retested already, NIM (Net interest margin) is getting squeezed as rates go up and sentiment towards banks is weak.
WFC Q2-Q3 2023 Posting my idea on Wells Fargo .
WFC fell out of the it's channel during the recent price volatility hitting bank stocks. Guessing this recovery stalls out over the next few days before it continues down. I would not be surprised if we see near-$30 WFC.
A few price areas i think we see interesting price action in lime green lines.
Note : Zones drawn in the 3d chart but publishing the 1 day to see the day to day price movement.
๐พ Wells Fargo & Company Turns Bearish | Crash AheadWhat we are seeing with these banks are the side effects of massive monetary expansion.
This is the result of the Covid money printing fest.
We will soon enter the withdrawal phase ... Right now the banks are deep into the headaches.
โ๏ธ Wells Fargo looks pretty bad. While last week you could say everything was fine based on the chart signals, this week nullifies months and months of recovery.
Of course, there were many signals pointing to what is happening now from way back... If you track this chart you would be able to tell.
The RSI and MACD peaked 2021, both have been building a very strong bearish divergence.
The trading volume continues to decline and we have Elliot Wave Theory as well which calls for lower prices in the form of a correction.
Let's look at the present time.
Here is the chart:
โ๏ธ The RSI jumped off a cliff. Trending lower strong.
โ๏ธ This weeks candle moved below EMA10, EMA21, EMA50, EMA100, EMA300 and MA200; all in a single candle.
โ๏ธ The highest bear volume bar is present this week since June 2022.
This can be the start of the (C) wave in a classic ABC correction.
The wave count is marked on the chart.
The question comes up again, will Bitcoin crash together with the banks?
It is possible but the charts are very similar.
While these banks have gone down by 30%-40%, Bitcoin went down by 77% and they are going through the same pattern.
Where these banks are headed is where Bitcoin has already been at but it can still go lower though.
The things is that Bitcoin should work as an alternative to decaying banks, it was created to protect people for situations exactly like the one we are seeing now, to protect people from another 2008.
We have to wait and see if the experiment will work.
My hopes are very low though for these banks though.
It is already being reported that the SIVB people paid their bonuses and did their insider trading before crashing everything... People are bound to get tired at some point.
Namaste.
Wells Fargo 31223Immenent collapse of most of the banking sector to consolidate power further. Wells Fargo lining up terribly as it continues to face rejection and now breaking out of its consolidation structure and rejecting out of it as resistance.
This is why Bitcoin makes even more sense now more thn ever. I will be adding up BTC aggressively as much as possible as well as adding more Lockheed Martin, Gold/silver and cash
WELLS FARGO Stock Chart Fibonacci Analysis 0311231) Find a FIBO Slingshot
2) Check FIBO 61.80% level
3) Entry Point > 41.2/61.80%
Wells Fargo: Diamond Top Bearish BreakdownSInce Reversing at the PCZ of a Bearish Shark WFC has formed a very clear and defined Diamond Structure. I believe that this week we will confirmed a Bearish Breakdown of Structure and the Moving Averages in which that should mark the start of a Volatile Decline to around $20 or even lower.
WFC - Bearish but Dividend PendingWFC is up about 10% over the last month and even more since Dec of last year, however the weekly price closed down last week, and is now down two weeks in a row. Several bearish indications are suggesting a pull-back in price. However WFC will issue a dividend payment to shareholders on March 1st which is supporting the current price. Overall the WFC price appears to be breaking down/out of a multi-week wedge. I see limited upside and near term downside due to QT effects and overall liquidity issues in the market, and more specifically for WFC due to the reasons listed below.
1. High volume resistance associated with a significant +12% sell-off week of Feb 5th 2018. That week WFC had closing price of $47.57 and a low of $47.35. WFC has tried and failed to move through this area for the last three weeks.
2. Significant sell off at/near current price occurred in early 2020 - associated with 'global liquidity issues' a few months before the COVID crash. Week of Jan 13, 2020 WFC's price dropped over 6% on significant volume, falling from $48.35 to $45.28 adding significant resistance at/near current price range.
3. Trendline resistance - Trendline drawn off Jan 2018 and Nov 2021 highs and other significant trendlines continue to cap current price. Further, mid-line regression trend resistance is in-play as measured off the Oct 2020 low.
4. Potential double top formation. A double top with a re-test of the recent Nov 22 highs is currently in play/occurring for WFC.
5. Bearish Volume Trends - Buyers appear to be exiting in mass on the weekly timeframe. Similar trend as seen in late 2022 and early 2023 when the WFC price dropped by over 20%.
Also of note - WFC was one of the stocks that dropped like a rock at the open on January 24th of this year and was "halted" with many trades being cancelled - not exactly sure what happened that day but I see it as a potential sign of things to come. Generally looking for WFC to move down during March 2023 after the $0.30 dividend payment on March 1st. NFA!
WFC Value or Trap I love this bank, But not at this price. Rate continue to rise at a moderate pace and although inflation has slowed I feel that there should be a pull back to maintain a safe market with consistent liquidity. I see a price manufactured in part by greed. Though WFC is well run and is a very solid stock for the long portfolio. I just thin that buying it here is not ideal. I am not going to short this as I feel there are far better opportunities in the sector. but I am No longer in a mindset of accumulation. Give me 45 or under and we can perhaps start to re-evaluate historic values. I think its time for purchases are well beyond for new buyers. There are better places to park for stability.
WFC Options Trading: Bullish Trend with Key Support and ResistanThe WFC options market is displaying a bullish trend, with resistance at 50 and support at 47. Stay informed and make informed trading decisions by keeping an eye on these key levels. Stay ahead of the game with our latest update on WFC options trading.
$WFC with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $WFC after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 66.67%.
WFC Wells Fargo Options Ahead of EarningsLooking at the WFC Wells Fargo options chain, i would buy the $42.5 strike price Puts with
2023-3-17 expiration date for about
$2.14 premium.
If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Looking forward to read your opinion about it.
