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...
๐นStrong development within a rising trend channel in the medium long term.
๐นDouble bottom formation and given signal of further rise to 47.78. Support at 42.24 if NEGATIVE reaction occur.
๐นBetween support 40.50 and resistance 46.00.
๐นTechnically slightly negative for the medium long term.
Chart Pattern;
๐นDT - Double Top | BEARISH | ๐ด
๐นDB - 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
have...
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.
Only...
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
$$1.02 premium.
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.
ADDTIONAL INFO:
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 โ 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.
Good luck
P
* ๐ง๐ต๐ฒ ๐ถ๐ป๐ณ๐ผ๐ฟ๐บ๐ฎ๐๐ถ๐ผ๐ป ๐ฎ๐ป๐ฑ ๐ฎ๐ป๐ฎ๐น๐๐๐ถ๐ ๐๐ต๐ฎ๐ฟ๐ฒ๐ฑ ๐ถ๐ป ๐๐ต๐ถ๐ ๐ฝ๐ผ๐๐ ๐ถ๐ ๐ป๐ผ๐ ๐ณ๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น ๐ฎ๐ฑ๐๐ถ๐ฐ๐ฒ. ๐๐น๐๐ฎ๐๐ ๐ฐ๐ผ๐ป๐ฑ๐๐ฐ๐ ๐๐ผ๐๐ฟ ๐ผ๐๐ป ๐ฎ๐ป๐ฎ๐น๐๐๐ถ๐ ๐ฎ๐ป๐ฑ ๐ฟ๐ฒ๐๐ฒ๐ฎ๐ฟ๐ฐ๐ต.
![JPM: JPM - Rising Trend Channel [MID -TERM]](https://s3.tradingview.com/h/hhaVuCSB_mid.png "JPM - Rising Trend Channel [MID -TERM]")
![WFC: WFC - Falling Trend Channel [MID -TERM]](https://s3.tradingview.com/c/cQYc1Yhb_mid.png "WFC - Falling Trend Channel [MID -TERM]")
