Wells Fargo's most recent trend suggests a bearish bias. One trading opportunity on Wells Fargo is a Bear Call Spread using a strike $50.00 short call and a strike $55.00 long call offers a potential 14.16% return on risk over the next 19 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $50.00 by expiration. The full premium credit of $0.62 would be kept by the premium seller. The risk of $4.38 would be incurred if the stock rose above the $55.00 long call strike price.
The 5-day moving average is moving down which suggests that the short-term momentum for Wells Fargo is bearish and the probability of a decline in share price is higher if the stock starts trending.
The 20-day moving average is moving down which suggests that the medium-term momentum for Wells Fargo is bearish.
The RSI indicator is at 45.18 level which suggests that the stock is neither overbought nor oversold at this time.
To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here
LATEST NEWS for Wells Fargo
Lyft, Wells Fargo CEO and ‘Constructive' Trade Talks – 5 Things You Must Know
Fri, 29 Mar 2019 09:36:00 +0000
Treasury Secretary Steve Mnuchin said through his verified social media account Friday that talks with Chinese Vice Premier Liu He and the China trade team in Beijing were “constructive,” adding Liu would travel to Washington next week to move the discussions forward. Contracts tied to the Dow Jones Industrial Average rose 46 points, futures for the S&P 500 gained 4 points, and Nasdaq futures were up 15 points.
Wells Fargo Edges Higher as CEO Departs; ‘About Damn Time' Says Elizabeth Warren
Fri, 29 Mar 2019 09:35:00 +0000
shares were indicated higher Friday after CEO Tim Sloan said he would step down after just three years at the helm as the bank attempts to put years of scandals and political criticism behind it by seeking an outsider to lead the fourth largest U.S. lender. Sloan, 58, replaced ousted CEO John Stumpf in 2016 as the bank reeled from revelations that staff had created millions of fake accounts in order to boost internal performance targets. Tim Sloan should have been fired a long time ago.
Wells Fargo CEO Tim Sloan steps down amid many scandals
Fri, 29 Mar 2019 05:11:35 +0000
Wells Fargo CEO Tim Sloan announced Thursday he is resigning, effective immediately. Sloan took over in October 2016, but has faced a series of scandals since then.
Wells Fargo CEO Tim Sloan steps down
Fri, 29 Mar 2019 00:02:55 +0000
The board said in a statement it concluded it was best to seek an outside candidate to replace Sloan. The bank's general counsel, C. Allen Parker, one of the few newcomers in the bank's top ranks, will serve as interim chief executive. Prior to becoming CEO, Sloan served as chief operating officer and head of the wholesale bank.
Wells Fargo CEO Sloan steps down after rocky tenure
Thu, 28 Mar 2019 23:25:06 +0000
Wells Fargo's CEO Tim Sloan stepped down Thursday, saying he'd become too much of a political target after a rocky tenure during which the deeply troubled bank dealt with a seemingly unending wave of scandals. Sloan said in a statement he will give up his roles as CEO and president as well as his seat on the board, effective immediately. Sloan led the banking giant for less than three years.
Also on Market Tamer…
Follow Us on Facebook