Wells Fargo’s 4 Day Up Streak Comes to an End

The Daily View for Wells Fargo

  • At the moment, WFC’s price is down $-0.06 (-0.14%) 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 trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Wells Fargo. Given that we see downtrend on the 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • 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.

Wells Fargo’s hourly price chart is shown below.

WFC

The Daily View for Wells Fargo

  • At the time of this writing, WFC’s price is down $-1.34 (-3.05%) from the day prior.
  • Wells Fargo has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 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.

Below is a daily price chart of Wells Fargo.

WFC

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