Heading back to 50$ then a return back to 45-46 in time for earnings. If it does fall outside of the megaphone I'm guessing they'll save it for earnings
Micro trend, maybe see 45 again then goes north and doesn’t look back. Symmetrical triangle to break up or down depending on interest rate moves up/down.
ContraryTrader
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@MizzouChemRxn I Disagree. if 45 doesn't hold support there is a major H&S forming
MizzouChemRxn
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@ContraryTrader, I feel if you look at the other banks in the financial sector you will see an inverted head and shoulders. I don't disagree it could see 45 again... any news easily moves WFC due to past issues. WFC was just a victim of bad previous management and now litigation news that has already been settled. It's just digesting on its way up due to huge inflationary outlook/interest rate rises. The whole financial sector will melt up over the next 12-24 months as people get excited about rate increases from the Fed. Again, just an opinion and analysis as you've given.