timwest
Short

WFC technical topping formation - chart only

NYSE:WFC   WELLS FARGO & CO NEW
338 3 5
There are some suspect days in WFC             stock where volumes were high on down days, but show up as green bars because the close was above the open. The breakout pattern from early this year appears to be a fake-out, break-out pattern and it was used to liquidate huge positions of stock by big position holders.

Fundamentals will likely follow, but the technicals indicate a low-risk, high-reward trade setup scenario.

See chart for details.

Tim 9:33AM 2/27/14 45.94 last on a down gap open
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AlexandreFF
2 years ago
Your the only chartist here i actually learn with, thanks !
+1 Reply
nihal.bhat.7
2 years ago
yep potential sign of a top in these overpriced, overleveraged banks.
Reply
Kurono_Trader
2 years ago
they consistently beat expectations with their earnings
Reply
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