WFC has developed a head and shoulders pattern on its weekly chart. Each shoulder has made up 1/3 the range ($6) of the head, which is typical. Typically if this breaks down out of the head and shoulders pattern, we can look for 1/3 range to the downside which would put us in resistance right around the $41 to $39 range.
Trade closed: stop reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.