Put sale is near strong support , trend line and 200 SMA - with decent premium.
Today, 10,000+ WFC Mar 20 $56 calls traded with the vast majority being bought for $0.35-$0.45 each, against no previous open interest. For every put that traded in the session, 2.5 calls traded (18,568 total). Talk of a Fed Funds rate hike later this year is bullish for financial companies like Wells Fargo and the stock remains relatively inexpensive. WFC...
Both $JPM and $WFC are on bearish potential. WFC is very bullish stock all the time, but I am expecting for down move correction. JPM is more on bearish pattern. it has Bearish Gartley , Bearish wolf wave and Crown Pattern Resistant. $SPY is hovering down and I am expecting for down move for correction.
Once an issue breaks to the downside (A) there comes a time where we get a snapback rally bear channel (trendlines, B). upon the completion of the B wave in most cases its bombs away to the downside.
$WFC has been downgraded from Buy to Hold by some analyst. I am expecting WFC dive to $49 -$47 area. yesterday daily bearish bar is good reason for bearish move.
The fattest cat on Wall St. seems to be flying a bit under the radar these days. Wells Fargo & Co (NYSE:WFC) has been quietly rising to become the biggest banks in the world by market cap during 2014. Surprised? Well check out these stats... Considered one of the most conservative banks in the United States, Wells Fargo & Co (NYSE:WFC) has moved up from fourth...