devshahac

Wells Fargo Breakout and retest done

Long
NYSE:WFC   Wells Fargo & Company
Break out and retest done with good volume spikes and bullish indication from moving average.
Events :
- surprise earnings +
- Double dividend +

Downside side : -
Banking sector is too much dependent on governance and social environment. Though, No negative news have been rotating in the market, its still a bit controversial stock.
Entry - cmp
Stoploss - 43.61
Trgt - Wait and see if it break above 48 and hold for medium term later. Book profit as per your risk reward appetite.

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