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WFC trade ideas

WFC Covered CallWells Fargo has taken a beating in 2019 and 2020. With stock falling significantly, I believe the stock is due for a bounce. I bought 100 shares on 6/3/2020 @ $28.86 and due to volatile expectancy of this stock, I sold an ITM 28.50 sell call for a credit of $2.12. My max profit is $212 - intrinsic value ($36) =$176 or 6.09% max profit at expiration on July 10th, 2020. I do think the stock could go up 6% in the next 30 days, but it also could be very choppy. To limit my risk, the covered call protects my position to the break even price of 26.74. I will also reach my max profit as long as the stock stays above 28.50; In this scenario, I have a higher probability of success than just by the shares, at the same time, I do limit my profits. Hit the Like button if you want to be updated. Goodluck.
NYSE:WFCLong
by TheBulltrader
Time to pick up hammered stocksThis is long position idea. If you believe that yesterday breakout is not just a fake then there is an idea to pick up fallen large cap stocks in the short term. As I can see there are many sectors that were brutally dumped in March and pumped in April. Oil industry, restaurants, cruise companies and more recently airlines are up about 50%. Mostly, these stocks are COVID-effected. My idea is simple: to pick up stocks from sectors that have high risk and still are down. I find financial sector attractive. As I see there is no fear at the market right know I'd like to pick up some risky stocks with high market cap. Hedge funds have taken away 56M$ from WFC. Sounds horrible, lets see what market think about it :D
NYSE:WFCLong
by Krackenhead
WELLS FARGO ($WFC): Are They Gonna Send this Back to the 1800's?✨ New charts every day ✨ Like, Comment & Follow to help the community grow 🎉🎉 --- Depressing revenue and earnings predictions and a potential dividend cut aside, it is hard to justify shorting the big banks. Despite this, Wells Fargo's chart looks particularly bearish. While it is likely WFC will preform well in the future, it looks like for now this company founded back in the 1800's is about to get sent back to the 18.00's or lower. Given that, let's look for a short setup. Resources: www.earningswhispers.com + www.marketwatch.com --- 1. Fractal Trend is showing a downtrend (Maroon bar color) on the Daily timeframe chart. This makes sense given how the big banks have struggled in terms of share price while dealing with COVID. 2. With this strategy, we are looking for short setups in a downtrend and as such want to enter short on retests of bearish order blocks plotted by Orderblock Mapping (Maroon) and/or bearish S/R levels plotted by Directional Bias (Maroon). 3. As you can see, we are close to getting a short entry from the strategy at R1. The goal here is to see a rejection of this level and continuation to the downside. 4. The target for this move is S2, although we will look for reactions at S1 and consider scaling a portion of our position off there to lock in profits. 5. We will exit this trade if our stop is reached or if Fractal Trend signals an uptrend (Aqua) while our trade is still open. With all that said, it should be noted that a drop of this magnitude for the big banks represents a move not seen since 2009 back in the wake of the Financial Crisis. Thus, even though the setup makes sense, it also makes sense not to be overly aggressive with this short's position size and consider it more of an overall market hedge.
NYSE:WFC
by AlphaBotSystem
5
Dare Catch A Knife? Wells Fargo.Wells is now off more than 50% since the start of the Coronavirus pandemic. However, Wells suffers from much more than a pandemic: Over the last two years, scandals around nefarious sales practices, some unfortunate executive departures, and an inability to grow top line has hit them hard, and the crisis has hit them especially hard in revenue terms. We're now looking at 2012 levels, not too far from where we were during the financial crisis. Peak to trough in 2009 we saw a 69% decline in $ NYSE:WFC ... more to go here?
NYSE:WFC
by CrosbyVenture
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