Wells Fargo’s Hot Streak: Up 4 of the Past 5 Days

The Daily View for Wells Fargo

  • Currently, WFC’s price is up $0.05 (0.13%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Wells Fargo has now gone up 4 of the past 5 days.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Price action traders may also wish to note that we see a doji 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.
  • Regarding moving averages, it should first be noted that price has crossed the 200 day moving average, resulting in them so that price is now turning above it. The moving averages on the daily 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.

WFC

The Daily View for Wells Fargo

  • Currently, WFC’s price is up $0.05 (0.13%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Wells Fargo has now gone up 4 of the past 5 days.
  • 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.

Below is a daily price chart of Wells Fargo.

WFC

Featured Wells Fargo Commentary From Twitter

$TSLA +2% pre-mkt to $780, following +13% move from $677 the past 2 days. 10yr Treas ylds rebounded to 1.63% +1.6bp, and QQQ +0.3% as traders continue to react positively to pause of JNJ vaccine, which limits inflation risk. Earnings season kicks off with JPM, GS, WFC reporting.NA

garyblack00