JoeHayes
Short

WFC Rejected at Trend Line

NYSE:WFC   WELLS FARGO & CO NEW
WFC             bouncing off trend line yesterday and today again to form a shooting star. There is some hidden bearish momentum divergence seen on the histogram, and the stochastic is coming out of overbought levels without price having broken the previous swing point high. This does look like a bull flag forming, but I am looking for one more move down to retest support before the next move up. Profit target right in front of support for a healthy 1:1.5 R/R ratio.
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