Wells Fargo Trade
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Derek Frazier shares and explains his ideas and process of decision making behind cyclitecnical trading. Please like and comment.
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$WFC has had a recent 20 day peak and a selloff on earnings; it has also broken support yet again; it can go back to $20.
The peak of its 80 day cycle is rapidly approaching, and it can be expected to fail at resistance of any kind, which $48 seems like a good place today.
Its steadily under 100 period moving average andy bounces expected to fail.