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...
Just check out the chart. It is worth to open a small short position tomorrow. Price may take a few weeks to drop, it its also probable that price attempts a few more times to break up. I would add if a see a strong sellers reaction.
🔹Strong development within a rising trend channel in the medium long term.
🔹Double bottom formation and given signal of further rise to 47.78. Support at 42.24 if NEGATIVE reaction occur.
🔹Between support 40.50 and resistance 46.00.
🔹Technically slightly negative for the medium long term.
Chart Pattern;
🔹DT - Double Top | BEARISH | 🔴
🔹DB - Double Bottom | BULLISH...
Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 40.7/61.80%
Chart time frame : B
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : A
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the bottom
D) Hit the top
Stocks rise as they rise from support and fall from resistance....
On the verge of a major breakout.
Obvious double bottom with the right bottom forming an ascending triangle.
Rsi is also coiled and looking bullish
XLF has broken out already
Entry - over 41.75
Stop loss - 41.00
1st target - 43.84 gap close
2nd target - 46.61
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
rising cycle 20.22%
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This data is analyzed by robots. Analyze historical trends based on The Adam Theory of Markets (20 moving averages/60 moving averages/120 moving averages/240 moving averages) and estimate the trend in the next 10 days. The white line is the robot's expected...
40 year paradigm shift breakdown line
Wells Fargo (priced in gold) just looks TERRIBLE.
Remove the fiat illusion, price EVERYTHING in gold.
confirmed breakdown
#gold #silver
Wells Fargo's momentum is DANGEROUSLY close to full meltdown.
Priced in gold, you can see the WEAKNESS even more.
#WellsFargo #gold #xauusd #BankingCrisis #inflation
Wells Fargo has broken down the long term trend line and also retested the same.
It can be shorted on rise below the trend line for a short term profit.
Note: This is for educational purpose.
The price failed to move to new highs even after the bullish cross of our EMAs.
It is now pointing back to the previous lows with the help of the 21h and 50h
The PEAD projected a bullish outlook for NYSE:WFC after a positive under reaction following its earnings release placing the stock in drift A with an expected accuracy of 100%.
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 .
![WFC: WFC - Falling Trend Channel [MID -TERM]](https://s3.tradingview.com/c/cQYc1Yhb_mid.png "WFC - Falling Trend Channel [MID -TERM]")
