Wells forgo as in Banking sector is under pressure since few days, Now its time to buy Wells forgo as this stock technical analysis is good
My 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.
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 -...
Sell Wells Fargo at 49.61 Stoploss 51.5 Target 48 45.5
WFC could fall towards $47-$43.50 levels if weekly candle closes below $52
Wells 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