View: WFC Daily IH&S 18AUG12.png

Classic Inverted Head & Shoulders at the end of a large three year rectangle consolidation pattern between the prices of $23 -$34. We do not know which way the stock will break but the pattern offers excellent trade planning and risk management. The neck line is four years of resistance going back to 2008. A confirmed breakout above and we will be trading $WFC long. A failure and breakdown of the right shoulder's rising bottom line and we will be trading $WFC short