Looking at WFC Morgans chart.
The SQZ indicator continues to turn hard green. Indicating further down side.
The stock has been ascending on descending volume. Bearish sentiment.
The MacD is about to have a bearish crossover.
The chart follows the bearish sentiment that is seen across the market.
WFC shows lack Of strength To rebound higher, comparing to the market and competitors.
My quant model predicts
Profitability: it has a high probability(68%) to drop below this level ($46.94).
Worst Case: it could rise to $50.25
Money Management: Bet no more than 25% of capital
Suggested Strategy: short stock for 5 Days
Disclaimer: I hate Wells Fargo.
A large head & shoulders pattern completed during q3/4 2018. Every major institution and index was forming double tops and reversal patterns. The real question is, is this more than a correction?
Perhaps. I think as all stocks and indexes have hit all-time highs, a correction is only natural. The hard part to gauge is whether we...
We've know about the sell signals since 2017. Banks had multiple chances to sell at the upper channel lines from long term trends of 45 years! Now we see the cracks emerging. If this wave count is correct, we might start wave 3 of 3 soon!
Long term head and shoulder on this stock. Overall people seem to be bullish on this stock for some reason. Trend looks like its going down to ~35 or so.
take this pattern as the one i want to use for the activity i am more comfortable with this one than with the one i posted at the beginning we can expect a reversal of the trend if the price breaks below the neck line. good oportunity to open short positions.
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial. It provides retail, commercial and corporate banking services through banking locations and offices, the Internet and other distribution channels to individuals, businesses and institutions in all 50 states, the District of Columbia and in other countries. It provides other financial services through its subsidiaries engaged in various businesses, including wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing services, investment advisory services, mortgage-backed securities servicing and venture capital investment.
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NYSE:WFC
