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
Comments
AlexandreFF
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Your the only chartist here i actually learn with, thanks !
Kurono_Trader
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they consistently beat expectations with their earnings
nihal.bhat.7
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yep potential sign of a top in these overpriced, overleveraged banks.