WFC trade ideas
Wells Fargo's Resurgence (part 2)AT this aspect of the analysis will be straight forward because at this point, after studying the long-term trend (5-yr), we discerned that the price was trending up. After looking at the 1-yr chart my conviction hasn't been swayed although the price's trend is heading into a resistance cloud and 31.8% resistance level I feel there's enough momentum to break through them. At this point the long-term and mid-term perspectives look good the next will be to try to forecast the shorter-term prospective. BUT, I like the stock enough that I don't know that there's any more evidence from the price action to assuage me from further research. The last part of this analysis will be to do the fundamental analysis and understand the growth prospects of the company from within.
I'm not averse to doing the short term analysis, leave a comment if you'd like me to do it. Check my blog Ready Set Budget (readysetbudget.blogspot.com) for other aspects of financial planning.
Well Fargo's Resurgence (Part 1)This is the first part of my top down analysis of Wells Fargo which is looking to pick up the pieces from it's recent scandals. At this point of the analysis I'm working in reverse by looking at the trend before I look at the actual value of the company and it's financial position. The overall trend is upwards even though this year there was a massive retraction. BUT that retraction is just faced its bottom resistance (W- bottom) which look like the bottom of an upward trend. The price just jumped off the 200-day moving average (exponential) and is fixing to catch up to the 50-day moving average. The 50-day moving average is starting to turn up as well but the rate of change in volume is quite subdued, but the momentum is slowly turning.
Comments and positive criticism are always welcome!
WFC uptrend in progress It looks like a nice pattern here, it's going up gradually and then consolidating plenty of room for more gains. APRN is having the same type of pattern gains are being made from these 2 studs!
4 horsemen $JPM $BAC $C $WFChigher rates lower regulations #WINNING! those $XLF July 28+ calls will PAY in time.
WFC returning from down-underShould have spotted this one sooner, 53 would have been a great entry point. Now it's getting riskier to enter. 56.15 would be another resistance level for this one, if it surpasses it then clear gainz should occur up to 58.
WFC longPrice bouncing off from the wk demand imbalance, buy signal confirmed by slope of EMA and MACD. Buy in daily to catch up the uptrend
WELLSFARGO recoveryWellsFargo is constantly bombarded for its foul practises but its share price handled the backlash quite well. As a result of this underlying sentiment to support the share price being in congruence with the technicals, I think this provides a pretty good buy-side opportunity.
S/l: $43
T/p: $80
Wells Fargo is a buy at current levels ($51.55)WFC's stock price made a double bottom around $50-51. Retracement to $56 is highly probable (38% Fibonacci level from 66 to 51). The stock is down almost 20% in the past three months.1Q results were not that bad as it reported earnings of $1.12 per share beating estimates of $1.07.
With a forward P/E of 12-13x and a current P/BV of 1.4x, the stock appears cheap. The US Financial sector trades at a forward P/E of 20x or so. Dividend yield is decent at 3.1%.
I am buying the stock with a target of around $60.
Bull DivergenceThe start of a bullish divergence is starting to show on the stochs. This is powerful and could lead to a breakout of the downward wedge soon!
WFC long setupPotentially bouncing off major support. Feeler position at 52 and looking to add through 54
Classic AB=CD > Re Entry @ 51.30Price and Time: Under this type of ABCD pattern the amount of distance and the time it takes for price to travel from A to B is equal to the time and distance from C to D
Classic ABCD: In this pattern, the BC is a retracement of 61.8% – 78.6% of AB, with CD being the extension leg of 127.2% to 161.8% (equal in price distance)
ABCD extension: CD leg is an extension of AB between 127.2% – 161.8%
AB=CD, Crab, Bearish 5-0, RSI BAMM"The 5-0 pattern®, was discovered by Scott Carney and released in his book, Harmonic Trading of the Financial Markets: Volume Two.
Is a unique structure that possesses a precise alignment of Fibonacci ratios to validate the pattern. Although the 5-0 pattern® is considered a retracement pattern, as the 50% retracement is the most critical number within the Potential Reversal Zone, the measurements of the various price legs are slightly different than the Bat pattern™ or the Gartley™.
The 5-0 is within the family of 5-point harmonic reversal structures and is primarily defined by the structure’s B point – as is mandatory for all harmonic patterns™. However, the 5-0 pattern® requires a reciprocal AB=CD measurement to define the pattern’s completion.
The basic premise of the pattern is to identify distinct reactions following the completion of a contrary trend. Valid 5-0 patterns® typically represent the first pullback of a significant trend reversal. In many instances, the AB leg of the structure is a failed final wave of an extended trend.
The 5-0 is an incredibly precise pattern that possesses only two numbers – the 50% retracement of the BC leg and the Reciprocal AB=CD Pattern™ " - Scott Carney
Bullish Crab PatternThe key characteristics used to identify the Harmonic Crab pattern are as follows:
AB leg can retrace anywhere between 38.2% up to 88.6%
BC can retrace 38.2% – 88.6% of AB leg
CD is an extension of up to 161.8% of XA leg and is also an extension of 224% – 316% of the AB leg
After the crab pattern is established, traders can take their positions at or from point D (at the high or at the low of the price bar at D) targeting 61.8% and 127.2% of CD leg.
WELLS FARGO CORP. (WFC) DAILY BULLISH BUTTERFLYWELLS FARGO CORP. (WFC) DAILY BULLISH BUTTERFLY TGS 56.84 AND/OR 60.45
WFC Long Opportunity Higher High created, now we are seeing a pullback.
My long-term target for this stock is $64.00
Wells FargoVeo escenario de compra en WFC.
Viendo que esta en pleno retroceso, considero buena entrada a niveles de $53 usd de acuerdo a niveles clave de Fibonacci y un objetivo de $70 usd... la tendencia principal es alcista así que espero la idea se desarrolle bien.
El análisis lo hice en gráfico D1.
You Can't Grow Hi guys. Well, this one was supposedly officially told it can't grow. Will it obey? I have no idea but it looks weak and just broke the top range. Have a nice day and thank you very much indeed imho.
