vlad.adrian
Long

Wells Fargo - At crossroads

NYSE:WFC   WELLS FARGO & COMPANY
I believe that sometimes an instrument will go up if it will go above a level or vice versa. I believe that sometimes trading is that simple. Of course this strategy is affected by false breakouts, but at the end of the year, a trader applying this strategy should come out ahead.

Wells Fargo is currently standing at this type of level. It is the base of a massive weekly H&S pattern and a big daily triple bottom.

On the weekly chart, the volume indicators point to climactic volume , which makes me believe that all the selling has been done. A push up from the daily triple bottom will create a great weekly bullish divergence .

On the daily chart , a false break and a strong reversal yesterday.

As for targets, if I am right on the medium term, this stock should reach 49$. That is where I want to take some off the table. The rest of my position will be held for a longer time (unless stopped out) because if this massive H&S is not going to break, the uptrend will continue, and we shall see at least 60$.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
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 Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out