The Hourly View for Wells Fargo
- Currently, WFC’s price is down $-0.05 (-0.11%) from the hour prior.
- This is a reversal of the price action on the previous hour, in which price moved up.
- Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
- Price action traders may also wish to note that we see a pin bar candlestick pattern on Wells Fargo. Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
- The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Wells Fargo’s hourly price chart is shown below.
The Daily View for Wells Fargo
- At the moment, WFC’s price is up $1.01 (2.27%) from the day prior.
- This is a reversal of the price action on the previous day, in which price moved down.
- If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe.
- The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
- Divergence between WFC’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in WFC’s price.
Below is a daily price chart of Wells Fargo.
Latest News Discussing WFC
- Wall Street is okay with Well Fargo’s $250 million ‘speed bump’ fine – MarketWatch
September 13, 2021
Analysts at Height Capital and Raymond James mostly looked past a $250 million fine for Wells Fargo, and a cease-and-desist order from the Office of the Comptroller of the Currency related to a 2018 ruling on mortgage practices.
- 1 Big Stock Investment Warren Buffett Got Wrong – firstname.lastname@example.org (Matthew Frankel, CFP and Jason Hall)
September 13, 2021
Even the best make mistakes from time to time.