Hi Shoppers,

Wells Fargo (Ticker: WFC) has an interesting chart.

It has come down hard and fast and could be ready for a bounce:

Yesterday’s action created a hammer which could be a signal of a reversal of this big four day selloff of over five bucks.

It also closed that gap created back on October 14th.

I have strong support at yesterday’s lows going back to May.

If you add the volume profile, below this support it is wide open to trade lower, possibly down to $39.25.

So this morning’s trade in WFC will be telling us to go long some cheap calls or purchase some cheap puts.

Sustained trade above yesterday’s close, go for the calls. 

If the stock trades below that support level around $42.50 go for the puts.

I like next week’s expiration.

Trade Review

I was looking for CVS Health Corp (Ticker: CVS) to trade lower on December 2nd.

It did not, so I did not make a trade.

It still hasn’t broken through that resistance around $103. 

Keep it on your watchlist.

Thanks for Reading … See You Next Tuesday.

Licia Leslie