MizzouChemRxn

WFC is a bit hot on the RSI, MACD… see highlighted areas

Long
NYSE:WFC   Wells Fargo & Company
Similar to TSLA , WFC has been on an oversold then overbought momentum swing. Albeit, TSLA had a long consolidation time as did WFC back in November 2020 to June 2021. It’s time for a rotation back into cyclicals for their best quarter of earnings , but WFC is super hot and likely needs to come back down to mid-39 or even mid-48 before the fed meeting. Which I think just prior or at it will pause around mid-49 and run to 52-54 if they begin to taper bond purchases… they could be more aggressive on these which would signal or give the perception that rate hikes could come earlier and the FED are trying to stop that from happening. Either way I’m hopeful for 52-54 by EOY/January 2021. Look to purchase calls for 50 strike out for march to 2023/2024… always love to play it safe with the long term game. Obviously shorter timeframe means more risk… “not financial advice” … don’t get wtf people say that other than morons assume a written monologue about their thoughts/diary on trading is gold . Manage you’re own risk.
Comment: Oh, puts might not be a bad idea for 49 strike for 10/29/2021 if this were to occur… again.. be an adult and manage yourself.