WFC technical topping formation - chart only

Feb 27, 2014

There are some suspect days in WFC stock where volumes were high on down days, but show up as green bars because the close was above the open. The breakout pattern from early this year appears to be a fake-out, break-out pattern and it was used to liquidate huge positions of stock by big position holders.

Fundamentals will likely follow, but the technicals indicate a low-risk, high-reward trade setup scenario.

See chart for details.

Tim 9:33AM 2/27/14 45.94 last on a down gap open