WFC potential H & SH&S ish shape showing. Volume has been increasing on the moves down. I don't think it's done going lower yet. MACD and other indicators are pretty weak too.
NWT trade ideas
Updated Target for WFC
I always try to present the charts in a simple comprehensive format to prevent any confusion.
This is just my technical view, neither a fundamental comment nor a recommendation to trade..!
Please review my track record and calculate the odds for yourself..!
You’re likes and comments encourage me to continue this.
Stay tuned great live stream and quality content videos coming soon..!
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.
Buying WFC 19 MAR 21 42 CALLI'd like to see price hold this current support level on the 4H.
If price moves and closes lower than $35.80, then I will be closing these contracts for a loss.
Why did I choose $42 as a profit target? Because if you zoom out on the 4H chart, you will see a price level that was created between 28 FEB and 5 MAR 2020. I believe price could reach the peak of that price level by expiration.
Cup and Handle the easy money maker..!Potential gain:+35%
Reward/Risk:+3
Timeframe: 4-24 wks
I always try to present the charts in a simple comprehensive format to prevent any confusion.
This is just my technical view, neither a fundamental comment,nor a recommendation to trade..!
Please review my track record and calculate the odds for yourself..!
You’re likes and comments encourage me to continue this.
Stay tuned great live stream and quality content videos coming soon..!
*call options could also be rewarding!
WFC positive outlook1D chart hit resistance again yesterday. There is an ascending triangle forming on the 1D chart.
On the hourly chart, there seems to be a cup and handle forming, the handle has yet to form but the cup has.
RSI Is Approaching the top, similar to stochastic while MACD just crossed.
Awaiting for a solid cross over the 38.7/39 resistance and the next level to watch out for is 40
The Financial sector is hot I hope this stock goes well
Not Financial advice
WFC POST COVIDLong term analysis moving forward we have a big level here at the 120EMA being tested today. If this financial market boom continues, we should expect WFC to get back to PRE COVID levels around $ 45.00
Watch this chart closely for a break above this EMA - Anything below this EMA has always been a dip buy! You can see it took a long time during COVID for this to be dip bought back to the 120EMA on the weekly!
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.
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.
