On this 4H chart, I see WFC having had a bit trend up and then a retractment through the
upper anchored VWAP lines toward the mean running VWAP where I expect a bounce.
At present, price action is in a bit of a flat bottom triangle. The ZL MACD supports this
impending reversal with bullish divergence in the line cross under a histogram which
went red to...
Wells Fargo crossed on Friday over the HH trendline that was in effect since April 19th, invalidating it as a Resistance and instead giving form to a Channel Up pattern that is supported by the 1D MA50. The 1D technicals are bullish (RSI = 69.130, MACD = 0.870, ADX = 27.314) and even though the nearly overbought RSI will required a technical pullback in order to...
If you haven`t sold WFC here:
or bought it here:
Then Analyzing the options chain of WFC Wells Fargo & Company prior to the earnings report this week,
I would consider purchasing the 42.5usd strike price Puts with
an expiration date of 2023-8-18,
for a premium of approximately $1.42.
If these options prove to be profitable prior to the earnings release, I...
🔹Strong development within a rising trend channel in the medium long term.
🔹Double bottom formation and given signal of further rise to 47.78. Support at 42.24 if NEGATIVE reaction occur.
🔹Between support 40.50 and resistance 46.00.
🔹Technically slightly negative for the medium long term.
🔹DT - Double Top | BEARISH | 🔴
🔹DB - Double Bottom | BULLISH...
BAC on the daily recently descended from an asymmetrical head and shoulders pattern
near to or in the supply zone as indicated by the Luxalgo indicator down into the demand
zone in late March and early May for a double bottom. Fundamentally, the banking system
has been propped up by the federal central banking mechanisms and the situation seems to
Some weeks ago we have published analysis on the WFC stock where we explained that more downside is likely:
This time, we have a pleasure to show you analysis on lower time frame.
We expected more downside as the chart indicates a bearish sentiment as it forms a double top pattern.
Entree at 40.79
Stop-loss at 42.58
Taking profit at 36.55
As of late, the vast majority of us probably have been hearing about "too big to fail" or " a free market vs. a central market" What does all of this mean?"
Well, let's go over some of the basic stuff. As in some of my prior posts, it is important to understand that the "Fed" does NOT control mortgage rates or loan rates from your local banks. Let me repeat that...
BAC is shown here on the 15 minute chart. Fundamentally, it is under pressure like
many other banks including First Republic.
On the chart, price is in a downtrend having bounced from VWAP (redline)
in confluence with the blue line of the top of the high volume area of the
volume profile. Price is underneath the blackline which is the 210 HMA.
WFC looks bearish.
The rising wedge broke down and it's likely to see more downside on WFC.
Enter short position at the bearish retest.
Targets are shown on the chart.
Invalidation of the thesis would be if the price comes back and closes successfully above the upsloping resistance .
After the last price target was reached:
Now looking at the WFC Wells Fargo & Company options chain ahead of earnings , i would buy the $42.5 strike price Calls with
2023-7-21 expiration date for about
If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Looking forward to read your opinion about it.
Big Picture appears to be a downtrend. Here are a few opportunities to capture the short
If you don't have access to leverage to short, then I'd just wait for the opportunity to Buy @ 6.85 — which will, unfortunately, take a few years. But you should be ready by then...LOL.
SLO @ 46.25
SSO @ 37.70
TP1 @ 33.50
TP2 @ 25.80
TP3 @ 8.00
BLO @ 6.85
Wave C within a huge running flat, already completed Wave 1-3. There is one more push to the downside to go. Fibonacci gives some ideas for goals.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where...
18% to be made on daily timeframe if the support holds today
1. RSI DIVERGENCE Daily timeframe
2. Strong support Area
3. 3 to 1 ratio buy opportunity
Entry , SL and TP are shown on the chart.
* 𝗧𝗵𝗲 𝗶𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗮𝗻𝗮𝗹𝘆𝘀𝗶𝘀 𝘀𝗵𝗮𝗿𝗲𝗱 𝗶𝗻 𝘁𝗵𝗶𝘀 𝗽𝗼𝘀𝘁 𝗶𝘀 𝗻𝗼𝘁 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗮𝗱𝘃𝗶𝗰𝗲. 𝗔𝗹𝘄𝗮𝘆𝘀 𝗰𝗼𝗻𝗱𝘂𝗰𝘁 𝘆𝗼𝘂𝗿 𝗼𝘄𝗻 𝗮𝗻𝗮𝗹𝘆𝘀𝗶𝘀 𝗮𝗻𝗱 𝗿𝗲𝘀𝗲𝗮𝗿𝗰𝗵.