Wells Fargo & Co (NYSE:WFC) Bullish Divergence
Overall, the bias in prices is: Downwards.
Short term: Prices are stalling.
Intermediate term: Prices are trending.
Note: this chart shows extraordinary price action to the downside.
By the way, prices are vulnerable to a correction towards 46.91.
The projected upper bound is: 46.72.
The projected lower bound is: 43.53.
The projected closing price is: 45.12.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 25 white candles and 25 black candles.
A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 59.7261. This is not an overbought or oversold reading. The last signal was a buy 1 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 41.84. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 1 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 3. This is not a topping or bottoming area. The last signal was a buy 1 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 0 period(s) ago.
Rex Takasugi – TD Profile
WELLS FARGO & CO closed up 0.190 at 45.180. Volume was 26% above average (neutral) and Bollinger Bands were 22% wider than normal.
Open High Low Close Volume___
45.210 45.390 44.840 45.180 7,617,044
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 44.74 47.57 48.65
Volatility: 25 21 27
Volume: 9,267,156 6,545,828 5,700,834
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
WELLS FARGO & CO is currently 7.1% below its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect moderate flows of volume out of WFC.N (mildly bearish). Our trend forecasting oscillators are currently bearish on WFC.N and have had this outlook for the last 16 periods. Our momentum oscillator has set a new 14-period high while the security price has not. This is a bullish divergence.
Latest posts by HEFFX Australia (see all)
- Australian Mines Limited (ASX:AUZ) Looks like the Bears have come to Play - November 19, 2017
- Fairfax Media Limited (ASX:FXJ) Falls 24.60% - November 16, 2017
- Kidman Resources Ltd (ASX:KDR) Slides 10.42% - November 16, 2017