WFC — All updates

All right, next up and lastly into WFC. Now, the U financials were under stress today, guys. and they've been under stress as you can see here for the last about week to two weeks of trading action with the rates continuing to push higher up on the charts.

Now, what WFC did today, excuse me, is they pierced a long-term inclining trend line. Now, check out the RSI on this chart. It's down at 32.58. So, we're getting on the warning track just for a pure technical bounce on the charts.

A bounce of a technical nature with optimistic point of view could take us all the way up here to 8354. the bottom range of this previous consolidation. So, it's a great start for now.

Next is Wells Fargo Bank. A very similar situation, guys. Today is a bearish day , down by approximately 4%, but we are starting here on the weekly timeframe.

Just like JPM , Wells Fargo has a very good upward support trend line that should hold the price and allow it to bounce back. If it continues to move straight down, like JPM, look at where the price is and where it closed today: below these lower pivots that occurred here during August and July as well as in June.

My grandfather gifted me $20,000 of Wells Fargo stock when I was young after his local community bank was acquired by them. I know having that much money in a single stock is a major concentration risk, but I've been very hesitant to diversify because the capital gains tax hit and strong dividend income.