Trade Idea for Wells Fargo & Company (NYSE)

Wells Fargo & Company (NYSE)

#WFC

    The trend is bullish. The stock is trading within the range of the 365 and 135 EMAs. The descending wave structure is truncated. The Awesome Oscillator shows bullish divergence, while the Stochastic Oscillator indicates oversold conditions.

Trading Idea:

Buy on the formation of an ascending wave structure, where wave (A) breaks above the descending channel of the truncated wave structure.

Stop Loss: 88.05.

Target levels: 93.00; 96.00.