cashcow04
Long

$WFC Bullish Reversal?

NYSE:WFC   WELLS FARGO & CO NEW
wfc
25 0 0
wfc
Financials destroyed not only today, but for the past week. FOMC, BOJ, Brexit, Treasury Yields, etc. driving the fear of God into people. When people are fearful, I shall be greedy. Looking at the daily chart of Wells Fargo and see a well defined channel dating back to the very beginning of this year. And if you look out further, you can see this price level has held support since the Spring of 2014. We are right on the 200 SMA of the weekly chart. I don't know what will happen with the FOMC tomorrow, or Brexit next week, but I feel confident the probability is on my side for a reversal, and an aggressive one if it does happen. Risk/Reward is intact.
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