Stonkademy

Wells Fargo 210+ day Cup with a Bull Flag for a Handle

Long
NYSE:WFC   Wells Fargo & Company
WFC has been building a Cup and Handle on the Daily since approximately Feb 20th of this year. This cup also happens to have a bullish flag within the handle. Price has already broken out of the flag around 47.50, and subsequently broke through significant resistance around 47.80. WFC ended the day Friday 9/24 retesting this level as new support, and it is setting us up for a long entry toward the previous ATH just above $66.00 if we get a bounce on Monday 9/27. The breakout of TNX last week also signals bullish context for financials if it confirms a new trend to the upside. WFC is not a fast mover so expect it to take several months to get there! Happy trading!
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.