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WELLS FARGO & COMPANYWELLS FARGO & COMPANYWELLS FARGO & COMPANY

WELLS FARGO & COMPANY

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WFC trade ideas

Using WFC as a big picture examplePeople continuing to feverishly *long* this market, especially future's and options speculators taking on extreme risk, do not seem to understand the bigger picture risk that might be involved. The March 2020 crash made historic records in every single technical department. Let me say this again. NOTHING in our world's advanced databases matched the speed and magnitude of both the stock market crash and abrupt halt in economic growth and activity, not even the remnants of data we have from the Great Depression of 1929-1932. Since the March 26th bottom, the market has rocketed up and speculative buying is going through the roof again. Yet, none of the other economic records that were smashed have even come close to recovery. In fact, they are getting worse. 100+ year old veteran companies are beginning to declare bankruptcy. WFC is still around but it is an example of one of those 100+ year old companies that could potentially go broke in the months or years ahead. My belief is that the March crash was just the first of many waves down. This long term chart shows how much danger lies ahead. The next wave down could take WFC back to 2008 levels as the wave length matches. That level would create a *final* support level before this stock potentially enters a free fall zone toward the 1980 levels. Sound impossible? Maybe, but WFC has already broken under the March 26th lows as we speak and that means there is high probability we get at least a second wave down of equal or greater length. I will take caution based on what the charts show me. I hope some of you will at least take some precautions too.
NYSE:WFCShort
by supere
2
Wells Fargo - trouble?Wells Fargo is in an extremely delicate moment right now. The U$ 28.88 (blue line) seems to be the most important price region, where it was tested several times as support and resistance alike. The prices are in a support region at the moment (pink line), but the loss of this region could make the prices drop to lower levels (orange or red line). It would be a very risky buy, not worth in my opinion, because we lack bullish signals here. Also, there is something that seems to be a Head and Shoulders pattern (red circles), which is a bearish pattern, but I would wait for a pullback to short the stock. It is very dangerous times and is better be safe than sorry.
NYSE:WFC
by Nathan_The_Finance_Hydra
WFC to Long, Double bottom patternExisting Condition: 1. in 60 min, down trendline break by breakaway Gap (G1, G2) 2. Double bottom reversal pattern Entry below 27.5 Stop below the bottom: 26 Target1: 33; risk/reward=1:3 Target2: 37, risk/reward=1:6 Predict: Runway Gap (G3); This is a trading school homework. I need 6 months to practice trading plan. If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
NYSE:WFCLong
by PlanTradePlanMM
Wells Fargo Set for correctionWells Fargo, once the worlds largest bank, by market capitalisation, has entered into my short zone. The bank has been in turmoil in the last couple of years with numerous lawsuits for fraud and unethical practice but the share price has not corrected from this news (As Warren Buffet was the largest shareholder). However, the markets have finally started to correct in our favour and have entered into our short zone. Amazing Risk to Reward ratio: 1:10 SL: 3.5% loss TP1: 34% gain
NYSE:WFCShort
by NizamInc
WFC to Long, V pattern formedExisting Condition: 1. in 60 min, down trendline break by breakaway Gap (G1) 2. Formed V reversal pattern Entry at demand zone: 29 Stop below this zone: 28 Target1: 35; risk/reward=1:5 Target2: 40, risk/reward=1:10 This is a trading school homework. I need 6 months to practice trading plan. If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate. In my real trade, I use options. I bought Jun C35 Call, limit 1.3; None stop. Sum of my ideas: 5 active, 7 winner, 1 loser, 0 pending for condition; 4 analysis only, 8 cancelled;
NYSE:WFCLong
by PlanTradePlanMM