Nov. 13 at 12:55 AM
$WFC is currently trading at
$86.25, showing a strong upward momentum but nearing overbought territory with an RSI of 67.1. The price is above both the 30-day MA (84.08) and the 50-day MA (83.43), indicating a bullish trend. The recent high of
$88.5 suggests potential resistance, while the low of
$76.59 provides a solid support level.
Given the current market context, the directional bias is bullish, but caution is warranted due to the RSI nearing overbought levels. A suggested entry point could be around
$85.50, allowing for a slight pullback. Set a stop loss at
$84.00 to manage risk effectively.
For targets, consider
$88.00 as the first target, aligning with the 60D high, and
$89.00 as a second target, allowing for potential breakout gains. Monitor the ATR of 1.82 for volatility considerations.
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