WFC, Wells Fargo update

wfc jun 8 2015

Back on the 5th of Dec. last year we suggested to sell this stock if not immediately then at the $58 price target that I thought was the max. leeway this stock had given the upper trend-line. The high , so far was $57.22 and neither the RSI or MACD appear to confirm this. The wedge with it’s overlaps is clear as a bell. First target, as always, is at the base of the wedge at just under $46, or down roughly 20%. It took  about six months to add the last $3 but it may only take 2 months to subtract the next $11. Time to get out.