Trading Wells Fargo $WFC With Integrated Risk Controls

April 17, 2023, 12:37 pm ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Price matters most to #makingmoney in the #stockmarket. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Wells Fargo (NYSE: WFC) report below can help you, but we have more details too. The trading plans for WFC, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for WFC

• Buy WFC slightly over 36.88 target 41.75 stop loss @ 36.77 Details

The technical summary data tells us to buy WFC near 36.88 with an upside target of 41.75. This data also tells us to set a stop loss @ 36.77 to protect against excessive loss in case the stock begins to move against the trade. 36.88 is the first level of support below 40.99 , and by rule, any test of support is a buy signal. In this case, support 36.88 would be being tested, so a buy signal would exist.

• Short WFC slightly under 41.75, target 36.88, stop loss @ 41.87 Details

The technical summary data is suggesting a short of WFC as it gets near 41.75 with a downside target of 36.88. We should have a stop loss in place at 41.87though. 41.75 is the first level of resistance above 40.99, and by rule, any test of resistance is a short signal. In this case, if resistance 41.75 is being tested, so a short signal would exist.

Swing Trading Plans for WFC

• Buy WFC slightly over 41.75, target 46.68, Stop Loss @ 41.63 Details

If 41.75 begins to break higher, the technical summary data tells us to buy WFC just slightly over 41.75, with an upside target of 46.68. The data also tells us to set a stop loss @ 41.63 in case the stock turns against the trade. 41.75 is the first level of resistance above 40.99, and by rule, any break above resistance is a buy signal. In this case, 41.75, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short WFC slightly near 41.75, target 40.05, Stop Loss @ 41.87. Details

The technical summary data is suggesting a short of WFC if it tests 41.75 with a downside target of 40.05. We should have a stop loss in place at 41.87 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 41.75, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for WFC

• Buy WFC slightly over 41.75, target 46.68, Stop Loss @ 41.65 Details

If 41.75 begins to break higher, the technical summary data tells us to buy WFC just slightly over 41.75, with an upside target of 46.68. The data also tells us to set a stop loss @ 41.65 in case the stock turns against the trade. 41.75 is the first level of resistance above 40.99, and by rule, any break above resistance is a buy signal. In this case, 41.75, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short WFC slightly near 41.75, target 40.30, Stop Loss @ 41.85. Details

The technical summary data is suggesting a short of WFC if it tests 41.75 with a downside target of 40.30. We should have a stop loss in place at 41.85 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 41.75, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

WFC Ratings for April 17:

Term →	Near	Mid	Long
Rating	Weak	Strong	Weak
P1	0	0	36.88
P2	39.60	38.44	41.75
P3	40.30	40.05	46.68

Support and Resistance Plot Chart for WFC

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