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WFC trade ideas

💾 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. ✔️ 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: ✔️ The RSI jumped off a cliff. Trending lower strong. ✔️ This weeks candle moved below EMA10, EMA21, EMA50, EMA100, EMA300 and MA200; all in a single candle. ✔️ 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.
NYSE:WFCShort
by MasterAnanda
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!
NYSE:WFCShort
by Akksujean
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.
NYSE:WFC
by ThetaBandits
$WFC weekly chart going into tomorrow's earnings print Will the stock move to the $45.88 area or retest the $40.00 PL? The consensus earnings estimate is $0.63 per share on revenue of $20.01 billion. Investor sentiment going into the company's earnings release has 45% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 54.35% with revenue decreasing by 7.85%. Overall earnings estimates have been revised lower since the company's last earnings release. Option traders are pricing in a 5.2% move on earnings and the stock has averaged a 3.6% move in recent quarters.
NYSE:WFC
by Solidified
WFC potential on downtrend - Bearish WFC most likely on downtrend especially after it break out from the support line of Double Top pattern. Can notice that it is having high selling volume on date 20 Dec & 21 Dec which break out the support price 40.92 USD. This is a initial signal that it is bearish on WFC for future direction. However if the price move upward which higher than the orange resistant line (41.92), this mean the downtrend is not yet confirm Thus, for those interest to take the risk can consider : Short position : 40.95 USD Stop Loss: 41.92 USD (Risk 2.42%) Note that “Past performance does not guarantee future performance. This is for just my personal opinion but not trading advise.”
NYSE:WFCShort
by samleecomp