Sell signal, week 2 · earnings on October 13
Wells Fargo drops 3% as the weekly MACD crosses below its Signal line after 16 weeks
Our view last week
Wells Fargo stock gives up 3.7%, a second straight down week, and money flow slips below zero after 4 weeks in positive territory. Last week sellers owned the weekly bar; this time a fresh sell signal fires, with price just under the 50-week moving average, in the 83.4 area. The technical analysis stays mixed: the weekly MACD still sits above its Signal line, though weakening, and for swing trading among bank stocks our model rates a new short here as high-risk.
This week's summary
Wells Fargo's weekly MACD has crossed below its Signal line after 16 weeks above it: 7 days ago it was still on top, though weakening. Wells Fargo stock loses 3%, a 3rd straight down week, and prints a new 30-day low in the 78 area, right where the 100-week moving average runs. For swing trading the technical analysis calls for caution: earnings are due on October 13 and our model rates a short opened now as high-risk.
Sell signal in observation
·2nd week from start
·US stocks
·T2
·📅 Earnings · Oct 13
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IQS Phase
61
ordinary
Signal Strength
73
downtrend making lower lows, pace holding
Sizing
STANDARD
Ranking
#18 / 175
US stocks sell signals
Trade P&L %
+3.04%
from signal to date, no stop loss
Wells Fargo (WFC) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 18th among the 175 sell signals for US stocks in our ranking, with a signal strength of 73 out of 100.
Sector context
SectorFinancials
Benchmark ETFXLF
Sector regimeweak phase
Performanceweekly -2.46% · monthly -7.23%
WFC belongs to the financials sector (reference ETF XLF). The sector is classified weak phase according to our weekly reading.
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