The Rectangle is just one piece of the puzzle. See the full technical breakdown.
Sideways movement between parallel supports.
Bullish continuation pattern.
Reversal pattern. Price likely to break downwards.
Bullish continuation if preceding move was up.
Gradual reversal from bearish to bullish.
Traders are watching Wells Fargo (WFC) as price action tightens. The stock is trading at $86.31, up 0.14% on the day. The primary technical feature is a Bullish Flag formation. Buying pressure is average relative to the 20-day average. A potential breakout level is identified at $89.79, targeting $106.8 with support near $85.1 (R:R 3.63).
What is your outlook on WFC?