WFC breaks below prior session low

Wells Fargo (WFC) Technical Analysis Report for Apr 16, 2018

Highlights

WFC closes lower for the 2nd day in a row
WFC breaks below previous session low
WFC falls to lowest close since September 14, 2017
WFC ends the day indecisive

TQ Sentiment

Report Sentiment: 25% Bearish
Technical Forecast:

Overview

Moving lower for the 2nd day in a row, WFC ended Monday at 50.80 edging lower $0.09 (-0.18%) on high volume. Today's closing price of 50.80 marks the lowest close since September 14, 2017. Closing below Friday's low at 50.81, the stock confirms its breakout through the previous session's low having traded $0.50 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for WFC

Volatility

Monday's trading range was $1.02 (2.02%), that's below last trading month's daily average range of $1.30. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

2,017's low at 48.64 is within reach and we might see further downside momentum should the market break out past.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Wells Fargo

Condition Forecast Direction Win Rate Exit Day Events
5 Consecutive Lower Closes TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Black Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Wells Fargo traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Market Movers

Related Stocks

ACGL 10 day candlestick chart for ACGL 30.18 -0.22 (-0.72%)
ADS 10 day candlestick chart for ADS 246.12 4.64 (1.92%)
AFG 10 day candlestick chart for AFG 112.03 -0.98 (-0.87%)
AFL 10 day candlestick chart for AFL 47.05 -0.16 (-0.34%)
AGO 10 day candlestick chart for AGO 40.33 -0.26 (-0.64%)
AHL 10 day candlestick chart for AHL 41.30 0.10 (0.24%)
AIG 10 day candlestick chart for AIG 53.30 0.05 (0.09%)
AIZ 10 day candlestick chart for AIZ 103.95 0.10 (0.10%)
AJG 10 day candlestick chart for AJG 75.12 0.23 (0.31%)
ALLY 10 day candlestick chart for ALLY 26.95 -0.17 (-0.63%)
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!