Looking at the WFC Wells Fargo options chain, i would buy the $42.5 strike price Puts with
2023-3-17 expiration date for about
$2.14 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.
Wells Fargo
Short Term - We look to Sell at 52.76 (stop at 54.67)
Preferred trade is to sell into rallies. There is scope for mild buying at the open but gains should be limited. Bespoke resistance is located at 52.00. The bias is still for lower levels and we look for any gains to be limited.
Our profit targets will be 46.89 and 44.53
Resistance: 52.00...
Wells Fargo - Short Term - We look to Sell at 51.31 (stop at 53.31)
Preferred trade is to sell into rallies. 20 1day EMA is at 51.20. Bespoke resistance is located at 51.00. The bias is still for lower levels and we look for any gains to be limited.
Our profit targets will be 46.00 and 44.53
Resistance: 51.00 / 55.00 / 60.00
Support: 46.00 / 43.00 /...
Wells Fargo has earned itself quite the rap sheet over the last 4yrs, and this is only the stuff that they've been caught with. - finance.yahoo.com
Q3 & Q4 2019 Earnings both missed expectations, and a lower guidance for 2020 has been provided.
If they can maintain expectations at or above their lowered 2020 forward looking guidance, maybe this uncompleted H&S...
The chart shows a massive H&S for $WFC.
NYSE:WFC
The weekly chart shows a target of ~$40.
Lower time frame shows a target of $44.
Please let me know what you think of my analysis.
Thanks for visiting.
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.
Wells Fargo created an HVF pattern starting from around the year 2009 leading up to about 2012. It broke out of the funnel, hitting both targets nicely.
It hit perfectly at the main target for its ATH (creating the head for the H&S pattern) then dropping right back down. It is seeming to come to a finish on the H&S pattern and if it breaks the neckline, we could...
