11/10 Mid Week Watch - $WFCMy level: 49.70
Why: strong name, prior low, annual pivot, prior monthly pivot
Notes: The name was super strong. I’ve been watching this name and have it on swing.
WFCS trade ideas
Wells Fargo Breakout and retest doneBreak 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.
Well Fargo - Bearish Head and Shoulder and retest of necklineSell Wells Fargo at 49.61 Stoploss 51.5 Target 48 45.5
WELLS FARGO weekly chart studyWFC could fall towards $47-$43.50 levels if weekly candle closes below $52
Wells Fargo buy setupWells Fargo is currently near channel bottom and 200 weekly SMA. One can buy between $54-$53.50
T1: 66
T2: 75
T3: 80
SL: 49
