JimMakos

Was Wells Fargo Q4 earnings day a good day to go long?

BATS:WFC   WELLS FARGO CO NEW
108 0 1
http://goo.gl/hrdEfR This is my trading strategy should I have traded Wells Fargo stock yesterday after the earnings announcement.

> Wells Fargo stock is trending upwards. The stock price pulls back about 50% before it prints a new higher top during the past 4 months. I don’t normally draw such an obvious trendline , but I’m including it for illustration purposes here.

> The stock is trading higher than the significant resistance level at $44.75, which used to be the 6-month high till December. The breakout that occurred on December 18 sent Wells Fargo stock price to $45 during a day, when bulls controlled the market throughout the session. That explains the long green body of that specific day’s candlestick .

> WFC             stock pulled back to $45. That level will probably provide support to future retracements.

Just another trend-following example, entering the market on each pullback.
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out