WFC Bearish Expanding TriangleDaily chart is forming an expanding triangle, i consider it bearish as it broke 5-12 EMA clouds on daily. Putting Fib to the chart high from previous support to see levels. We can soon test the EMA 50 level at 54.20 and 38.2% levels at 54$ Shortby TendiesMPublished 0
wfc short. I dont think this is gonna end well.it looks like this is over extended. we might see a big dropShortby billsim000111Published 1
WELLS FARGO - LIKE really, how far can this stock go?Personally, I think a lot of banks are going to get hit really hard. WFC is on an edge and it doesn't look good. Here's the chart price targets and trends are marked. If this thing pumps to some of these rejection zones, I'd look to enter short. Who knows, we might already have hit top. The drop from current price to the targets low is around 40% and 60% or so from the high. by nicktussing77Updated 335
WFC - Short IdeaHopping on WFC short to 45 area target zone. In my analysis I see the probabilities of some bank stocks taking a dip to find support in lower areas. WFC is one of them. Best of luckShortby EBGtraderPublished 0
Wells Fargo Has Pulled BackFinancials like Wells Fargo outperformed in late 2023 as bond yields fell. Now, after a pullback, some dip buyers may see a potential opportunity. The first pattern on today’s chart is the rally after inflation was lower than expected on November 14. WFC broke short-term resistance at $42.37 (its mid-October peak) and extended up to $50.77. It’s now retraced half that move. Second, the current lows are near the peaks from mid-July. Can old resistance become new support? Third, stochastics are nearing an oversold condition. Finally, the 50-day simple moving average (SMA) had a “golden cross” above the 200-day SMA in mid-December. That may suggest the bank’s long-term trend is getting more bullish. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures or cryptocurrencies); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission (“SEC”) and a futures commission merchant licensed with the Commodity Futures Trading Commission (“CFTC”). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association (“NFA”), and a number of exchanges. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services under federal and state money services business/money-transmitter and similar registrations and licenses. TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a member of NFA. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.by TradeStationPublished 5
Wells Fargo's 2023 Triumphs and the 2024 Cautionary Tale Wells Fargo ( NYSE:WFC ), a stalwart in the American financial landscape, recently reported a robust performance in the fourth quarter of 2023. Despite facing challenges, the bank demonstrated resilience, with a 9% year-over-year increase in net income, reaching $3.45 billion, and an earnings per share (EPS) of $0.86, surpassing analysts' expectations. However, caution looms on the horizon as Wells Fargo projects a potential 7% to 9% decline in net interest income for 2024, sparking conversations about the bank's strategic outlook. Fourth Quarter Triumphs: Wells Fargo's fourth-quarter achievements were notable, with a 2% rise in revenue to $20.48 billion, slightly exceeding analyst predictions. The bank managed a 5% drop in net interest income, aligning with their guidance, attributed to reduced deposit and loan balances, partially offset by higher interest rates. Notably, noninterest income saw a remarkable 17% increase, showcasing the diversification of revenue streams. Meanwhile, noninterest expenses decreased by 2%, demonstrating the bank's commitment to operational efficiency. Fiscal Year 2023 Performance: The fiscal year 2023 proved to be a banner year for Wells Fargo, with a 16.5% year-over-year growth in net interest income, surpassing their guidance of 16% higher than the previous year. The net interest income for 2023 totaled $52.4 billion, outperforming the prior year's $45.0 billion. Looking ahead, Wells Fargo anticipates a slight decline in average loans, coupled with modest growth in commercial and credit card loans for the upcoming year, suggesting a carefully calibrated approach to balance risk and reward. Stock Performance Analysis: NYSE:WFC 's stock performance reflects the intricate dance between triumphs and challenges. Total revenue for the past year stood at $77.83 billion, reflecting an 8.89% decrease compared to the previous year. The third quarter witnessed a decline of 11.21% in total revenue since the previous quarter, highlighting a dynamic market landscape. Net income for the past year declined by 38.82%, signaling hurdles faced by the bank, but a 16.79% increase in the third quarter to $5.77 billion suggests signs of recovery. The EPS for the past year decreased by 36.4%, yet the third quarter saw an 18.38% increase to $1.48. Strategic Caution for 2024: The cautionary outlook for 2024 stems from Wells Fargo's projected 7% to 9% decline in net interest income. This projection raises questions about the bank's response to evolving market conditions, potential shifts in interest rates, and their strategy to navigate the challenges. Investors and analysts will keenly observe Wells Fargo's strategic decisions in the coming year, assessing their ability to adapt to market dynamics while sustaining growth. Conclusion: Wells Fargo's ( NYSE:WFC ) journey through the highs and lows of 2023 paints a nuanced picture of a financial giant navigating turbulent waters. The fourth quarter triumphs showcase the bank's resilience and adaptability, while the cautionary outlook for 2024 underscores the challenges ahead. As the bank steers through 2024, the eyes of the financial world remain firmly fixed on Wells Fargo ( NYSE:WFC ), a symbol of endurance and strategic acumen.by DEXWireNewsPublished 3
$WFC support and resistanceKISS here with resistance being breached for a fbo return. Expecting move down to $41 area. Stop above last swing high. Shortby C0o0kiePublished 2
Wells Fargo's Earnings Report and the Path Forward Wells Fargo, one of the largest banks in the United States, recently faced a dip in its stock prices following the release of its fourth-quarter earnings report. Investors were particularly concerned about the higher provision for credit losses, which stood at $1.28 billion, up from $957 million in the same period last year. We will delve into the key factors that influenced Wells Fargo's performance, analyze its financial metrics, and explore the strategic moves the bank is making to steer through the challenging waters. 1. Provision for Credit Losses: A Closer Look The noticeable increase in Wells Fargo's provision for credit losses has undoubtedly raised eyebrows among investors. What led to this surge? The report points to higher allowances for credit losses on credit cards and commercial real estate loans. Unpacking these specific areas could provide valuable insights into the bank's risk management practices and exposure in these markets. 2. Earnings in Line, Revenue Beats Expectations Despite the concern over credit losses, Wells Fargo managed to post earnings of 86 cents per share, aligning with Wall Street estimates. The revenue figure of $20.49 billion surpassed expectations, showing the bank's ability to generate income amid challenging conditions. Examining the diverse revenue streams contributing to this success will help investors understand the resilience of Wells Fargo's business model. 3. Net Interest Income and the Rate Hike Impact The net interest income of $12.77 billion narrowly edged past Wall Street predictions. This achievement can be attributed to the Federal Reserve's series of interest rate hikes since 2022. A deeper exploration of how Wells Fargo strategically positioned itself to capitalize on these rate hikes and the impact on its interest-earning assets, such as loans and mortgages, will shed light on the bank's financial acumen. 4. CEO's Confidence and Forward-Looking Statements Wells Fargo's Chief Executive, Charlie Scharf, expressed confidence in the bank's performance moving forward. Analyzing Scharf's statements and the actions outlined in response to the current challenges will provide investors with a clearer understanding of the bank's strategic initiatives. How does Wells Fargo plan to mitigate risks, enhance returns, and navigate the intricacies of an evolving economic landscape? 5. Market Reaction and Future Outlook The 1.7% drop in Wells Fargo's stock in premarket trading suggests a cautious market sentiment. As we assess the broader market dynamics, including macroeconomic trends and industry-specific factors, we can better gauge the potential impact on Wells Fargo's future performance. Are there external factors contributing to the market's response, and how might they shape the bank's trajectory in the coming months? Conclusion: Wells Fargo's recent earnings report reflects a complex interplay of factors influencing the banking giant's performance. While challenges, particularly in credit losses, have caught the attention of investors, the bank's ability to meet earnings expectations and exceed revenue forecasts demonstrates resilience. As Wells Fargo navigates through uncertain economic waters, the strategic decisions made by its leadership will be crucial in determining its future trajectory. by DEXWireNewsPublished 3
WFC - Basic Technical AnalysisOn the monthly chart for WFC, the upper trend line has been respected multiple times(including Jan and Feb 2022) so far. Look at the red trendline(Marked 12/18/2023 Monthly Trendline) and the Fib 61.8 rejection(perfect to the cent) in December 2023. Look at the orange colored trendline(12/18/2023 Monthly Trendline) that has been respected since Dec 2020. On a weekly basis, rejected the Marked 12/18/2023 Monthly Trendline, Fib 61.8 rejection, upper Bollinger band, strong support at 47.04, double top. However, there is divergence between RSI and price action, where, RSI is going up, while price is heading down. VIX is also very low. Dollar down. Earnings on 1/12/2024.by lonehorsePublished 112
WFC Week of Jan 8Another request. This one looks pretty bullish, HA candles and setup signal a continuation to the upside. Look for a hold of the bullish condition and a move to the high targets on this one here. Banking sector is pretty strong right now. Be weary though, if next week turns out to be bearish in the banking area, we have a confirmed bearish reversal / top on HA: We have formulated the ascending wicks. Next week, closing below the ascending wicks will signal a confirmed top (well as confirmed as Technical analysis can be haha). It will need to push a bit higher than these wicks to invalidate the topping setup. But in terms of short term patterns, there should be some, at least short term, continuation to the upside. by SteverstevesPublished 2211
WFC : Booked a profit of 11.26% on the invested capitalTechnically the price is in a range which may act as an inflection point where the sellers may come in. So decided to book profit and take some chips off the table. Will look for a re-entry opportunity, if price falls back to the low of the channel line. Shortby Sniper-TradersPublished 1
$WFC going north?It has been consolidating between 40 and 48 for many months now. This weekly chart has it coming up again on its 48 price point and if it can bypass it then it will go much higher.Longby deepicemanPublished 0
WFC 1hr support trends with 50SMAWFC 1hr support trendlines with 50SMA Uptrend confirmed by latest trendline support by BradWeber82Published 0
WFC Wells Fargo & Company Options Ahead of EarningsIf you haven`t bought the dip on WFC: Then analyzing the options chain and the chart patterns of WFC Wells Fargo & Company prior to the earnings report this week, I would consider purchasing the 42.50usd strike price Calls with an expiration date of 2024-3-15, for a premium of approximately $1.87. 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. Longby TopgOptionsPublished 3
Earnings Journal█ SIMPLISTIC ANALYSIS </ Current Market Trend: short/sellers/negative. Next Wave: buy wave to the mean. Next Swing: negative swing to support. Trade Type: Touch & Go don't wait for a close. █ EARNINGS AT A GLANCE </ Release Date: 10/13 BMO Earnings Anticipations: positive surprise for EPS & Revenues. Surprise-Confidence: on a scale of 0-5, #3 EPS & Revenue 2-Year Trend: the trend in EPS is neutral, the trend in Revenues is neutral. █ SYNOPSIS </ "I expect the market will buy the surprise if the earnings report hits the Wall Street consensus, or sell the surprise if the earnings report misses the Wall Street consensus." █ RESEARCH DEPTH: </ Technical Analysis: daily chart. Fundamental Analysis: EPS & Revenue data. Press/News: none. Social Media: none.Longby HGCRDPublished 4
WFC - SHORT TERM DECLINEWells Fargo is planning to lay off over 500 employees in Richland County, South Carolina, by June 30, 2024. The layoffs have already started, with the highest number of job cuts in the state listed at their location on 101 Greystone Blvd. These layoffs are part of a consolidation process affecting behind-the-scenes employees, with bank tellers and customer service representatives unaffected. This move reflects a broader trend in the banking industry, where institutions are downsizing to adapt to changing market dynamics and technology advancements. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses. Shortby legacyFXofficialPublished 0
WFC LongI am long to Wells Fargo there is huge potential that this stock will bounce up in my opinionLongby orkhanrustamovPublished 3
Wells Fargo Priced in SilverPhase 1 Wells Fargo (priced in #silver) is setup for a move DOWNWARDS, towards that PARADIGM shift breakdown line. Phase 2 But that only leads up to MUCH bigger move, AFTER it breaks down below that line. Bull ERA for #gold, #silver, #uranium, and #crudeoil when this happens.Shortby BadchartsPublished 114
WFCLong here off trendline support and horizontal support. Stop loss 41.80 1st target 43.70 gap close Last target 45.00 gap close Longby ContraryTraderPublished 4411
WFC setting up a VWAP bounce LONGOn this 4H chart, I see WFC having had a bit trend up and then a retractment through the upper anchored VWAP lines toward the mean running VWAP where I expect a bounce. At present, price action is in a bit of a flat bottom triangle. The ZL MACD supports this impending reversal with bullish divergence in the line cross under a histogram which went red to green. I will take a long trade here with a stop loss under the histogram and a target just below the pivot high in mid July. I will zoom onto a 30 minute time frame to better select an optimal entry on the reversal. I will check banks in general including the ETFs KRE KBE BNKU and DPST.Longby AwesomeAvaniPublished 2
$WFC with a bearish outlook following its earnings #StocksThe PEAD projected a bearish outlook for NYSE:WFC after a positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 60%.Shortby EPSMomentumPublished 1
WFC ShortShort Wells Fargo. Sellers got in with strength + Weekly Resistance!Shortby DionisisPublished 2