WFC SELL (WELLS FARGO & COMPANY)Hi there. Price is forming a continuation pattern to the downside. Wait for the price to complete the pattern and watch strong price action for sell.
NWT trade ideas
WFC daily bull flag with 50ma supportThis one is pretty simple. Wells Fargo Corp showing consolidation (bull flag) with direct 50 day support. Near-term bottom in place with room to run.
Wells Fargo & Company bearish ahead of earnings.Looking at WFC Morgans chart.
The SQZ indicator continues to turn hard green. Indicating further down side.
The stock has been ascending on descending volume. Bearish sentiment.
The MacD is about to have a bearish crossover.
The chart follows the bearish sentiment that is seen across the market.
WFC rebound weakly (for Short)WFC shows lack Of strength To rebound higher, comparing to the market and competitors.
My quant model predicts
Profitability: it has a high probability(68%) to drop below this level ($46.94).
Worst Case: it could rise to $50.25
Money Management: Bet no more than 25% of capital
Suggested Strategy: short stock for 5 Days
WEllS FARGO has more to lose, but is my bankWEllS FARGO has more to lose but is my bank. I would be looking for a buying opportunity around 48.65, but for now, I'm selling a tiny position on it.
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Classic head & shoulders complete with bearish candlesDisclaimer: I hate Wells Fargo.
A large head & shoulders pattern completed during q3/4 2018. Every major institution and index was forming double tops and reversal patterns. The real question is, is this more than a correction?
Perhaps. I think as all stocks and indexes have hit all-time highs, a correction is only natural. The hard part to gauge is whether we are seeing signs of a recession or not. The plunge in stock price is worrisome for the stock market and economy as a whole.
Perhaps in the short term, the market will correct upwards. In the longer term I'm not a financial wizard, but it doesn't look good at all. Trump has been the catalyst for the bullish markets, and now that his boat looks like it's about to sink we might see something cray happen.
Some news about Wells Fargo:
www.usatoday.com
www.marketwatch.com
WFC - UH! OH! long term banking problemsWe've know about the sell signals since 2017. Banks had multiple chances to sell at the upper channel lines from long term trends of 45 years! Now we see the cracks emerging. If this wave count is correct, we might start wave 3 of 3 soon!
Well Fargo Head and ShoulderLong term head and shoulder on this stock. Overall people seem to be bullish on this stock for some reason. Trend looks like its going down to ~35 or so.
WFC 11 WEEK HS BOTTOMWELL FARGO 11 WEEK HEAD AND SHOULDER BOTTOM FORMED. WAIT FOR THE BREAKOUT CANDLE.
TAKE PROFIT: 59
STOP LOSS: 54
#WellsFargo | NYSE: $WFC is experiencing a HUGE #ABCCorrection!#WellsFargo | NYSE: $WFC is experiencing a HUGE #ABCCorrection!
Wells Fargo has formed a pretty nice H&S. NYSE:WFC
Fanning through some charts and saw this pretty nice H&S on WFC. Setting alerts on this one.
Happy trading!
head and shoulder stocktake this pattern as the one i want to use for the activity i am more comfortable with this one than with the one i posted at the beginning we can expect a reversal of the trend if the price breaks below the neck line. good oportunity to open short positions.
Wells Fargo 7 RRR shortTrading Methodology:
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based Fibonacci retracement triangle is drawn starting from the earliest trend touch point and ending at the earliest touch point of the opposite trend line .
4. Based on the degree, of the earlier defined angle, the appropriate (and secret) levels are selected for the fibonacci retracement ; two levels for stop-loss and two levels for take-profit. The closest stop-loss level to the current price level is the top priority stop-loss. Though the secondary stop-loss level is often chosen for some markets such as FX and some equities in order to account for seldom unexpected resistance breaks. The greater target level is the top priority, and where majority of the shares are sold, though some may choose to close part of the position at the first target level or set it to be the stop-loss once price exceeds it. Entries should be laddered in around the levels closest of the yellow line.
This trading strategy can be applied to any market and time frame, and positions most often garner the greatest risk-to-reward ratio with the highest success rate. What more can you ask for? I will only be posting my unique trading strategy until EOY. I work solely with price action to identify pennants and apply unique trend-based fibonacci retracement levels for SL and TP levels. Reach out to me if you have any questions.
WFC POTENTIAL DOWNTREND CONTINUATIONWFC has broken the long term correction with a strong impulse. I'm expecting a downtrend continuation to complete a potential 3 wave pattern.
Well Fargo to drop to $38?Wells Fargo created an HVF pattern starting from around the year 2009 leading up to about 2012. It broke out of the funnel, hitting both targets nicely.
It hit perfectly at the main target for its ATH (creating the head for the H&S pattern) then dropping right back down. It is seeming to come to a finish on the H&S pattern and if it breaks the neckline, we could potentially see targets to about $38 or more (about 28% profit from the neckline).
Lets see how this plays out over time. Keep in mind this might take some time to hit its targets considering that this is a weekly graph
