Well Fargo and Company Stock Code WFC.NYS
Outlook
Price broke above the cloud two days ago and yesterday we had a strong green candlestick that followed the breakout. Price also broke and closed above a recent resistance high. Base and Conversion lines are about to show a bullish crossover. These are bullish signs. A downtrend line connecting the high of $52.45 to the recent high on 5th July was penetrated by the strong green candle yesterday as well. MACD is still bullish and has a bullish crossover as well, confirming the bullish price trend. If price stays above the cloud and continues its uptrend, it is likely to head towards its previous high at $52.45.
Strategy
$48.20 Buy
$52.40 Price Target
$46.40 Risk Management Stop
3 weeks Trade Duration
Morgan Stanley Stock Code MS.NYS
Outlook
Price has moved above the cloud two days ago and yesterday, there was a strong green candlestick that broke above a recent price high resistance as well as closed a small gap that was created back on 13th May 2019. When price broke above the cloud, a gap was created and price has managed to stay above this gap for the past two days. As long as this gap is not closed, the short term direction is bullish and the near term target is the previous high at $48.50 MACD is above the zero line and bullish. Both lines of the MACD indicators are heading higher as well, hinting of more price rally ahead.
Strategy
$45.50 Buy
$48.50 Price Target
$43.80 Risk Management Stop
3 weeks Trade Duration
