Bullish potential detected for WFC

WFC represents a potential bullish opportunity should momentum continue and newer highs be made.

Entry condition:
(i) breach of the upper confines of the Darvas box formation - i.e.: above high of $61.76 of 23rd April.

Stop loss for the trade (based upon the Darvas box formation) would be:
(i) below the support level from the low of 3rd May (i.e.: below $59.12) - most conservative exit, or
(ii) below congestion area composed of volume profile zone and rising 10 day moving average (i.e.: below $60 area).

Сделка активна:

UPDATE (week ending 17-May): Trade activated on 10th May as share price exceeded the top of the Darvas box formation. Stop loss raised to $59.90 ($0.79 above one tick beneath base of Darvas box, based upon the high reached within the trading week - $62.55, which is $0.79 above the high of the Darvas box).