OptionsPlay DailyPlay

Bullish – WFC $47.52 – Financial

The bullish DailyPlay we chose for Thursday, April 25th is Wells Fargo (WFC). WFC is part of the Financial Sector (XLF). XLF has rallied 8.60% higher over the past month and its 1m and 6m trend turned bearish on April 1st and is testing a major resistance level at $27.50.

Wells Fargo’s 1m and 6m trends turned bearish on March 22nd but recently bounced higher off its $47 major support level yesterday. With a technical score of 3 (out of 10), WFC is a weak stock that is starting to turn higher. 

As a stop loss, if WFC was to trade below $47 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

View WFC Trade

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