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.
WFC 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.
