Entry price: 48-50$
Target price: 54-55$
Chart pattern: Bullish symmetrical triangle. The price just broke the upper boundary of triangle and retested that level as a support. Moreover, the price breakout was confirmed by increased volume.
RSI: Neutral, approaching 60 level, thus, there is still a potential for the future growth.
Conclusions: Chart pattern and RSI...
The technical figure Triangle can be found in US company Wells Fargo (WFC) at daily chart. Wells Fargo & Company is an American multinational financial services company. The company has operations in 35 countries with over 70 million customers globally. It is considered a systemically important financial institution by the Financial Stability Board. The Triangle...
Welcome to our Weekly V2-Trade Setup ( WFC ) !
Bullish break above main sr level..
Expecting more bullish pa!
Great midterm long entries.
ENTRY LEVEL @ 47.36
SL @ 44.78
TP @ Open
Max Risk: 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
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👋 Hello Traders!
In this video, I analyzed #WFC in detail. I bring to your attention one of my orders.
📈 #WFC went down for a long time (MN1) and only in May WFC broke through the downtrend and formed a new uptrend. WFC completed the correction in June and broke through the new level 47.45. Now the WFC is going up to three levels 54.30, 58.50 and 65.35.
It is a rough time for many banks, But that does not mean it is necessarily going to stay like this. With Warren Buffet currently increasing his stakes in the BAC (Bank of America), Whom also holds large similar stakes in Wells Fargo with both being extremely similar especially on the charts. We could actually see Wells Fargo stock vastly increase, Now i am not...
One of the big four is again similar in 2008 facing uncertainty. Last time the Fed asked them if they see a dark future in its capability to withstand the crisis.
Now again, WFC is at some risk but is it really? Ok, slashing 50% of the dividend may sound discouraging and you can see it from the price movements. Nevertheless, the risk this time is not comparable...
Wells Fargo WFC has been hit by the Covid-19 crisis more than its' peers Citi, JPM or BAC. Now pricing at 27$ which is very close to the Support level.
We also filtered this by looking at their fundamental ratios.
Investing strategies by pretiming
Investing position about Supply-Demand(S&D) strength: In Rising section of high profit & low risk
Supply-Demand(S&D) strength Trend Analysis: In the midst of an upward trend of strong upward momentum price flow marked by the temporary falls and strong rises.
Today's S&D strength...