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Wells Fargo & Company (WFC) provides diversified banking, investment, mortgage, consumer & commercial finance products & services in the United States & globally. It operates through four segments: Consumer banking & lending, Commercial banking, Corporate & Investment banking & Wealth management. It comes under the Financial Services sector & trades as “WFC” ticker at NYSE.

WFC is trading in a bullish Elliott wave sequence from March 2020 low. It favors a rally in ((3)) of III against 4.07.2025 low. Further rally above February 2025 high will confirm more upside.

WFC – Elliott Wave Latest Weekly View: 

Above March-2020 low of (II) at $20.76, it rallies in a bullish (III) sequence as proposed nest. It placed I of (III) at $60.30 high in February 2022. Within I, it ended ((1)) at $35.10 high, ((2)) at $29.68 low, ((3)) at $48.13 high, ((4)) at $41.47 low & ((5)) as diagonal at $60.30 high. It placed ((A)) of II at $36.54 low, ((B)) at $48.84 high & ((C)) as truncation at $35.25 low ended in March-2023. Above II low, it placed ((1)) of III at $81.50 high in February-2025 & proposed ended ((2)) at $58.42 low. Within ((1)), it ended (1) at $47.24 high, (2) at $38.38 low, (3) at $62.55 high, (4) at $50.15 low & (5) at $81.50 high.

It corrected lower in zigzag structure in ((2)), ended at $58.42 low on 4.07.2025. Within ((2)), it placed (A) at $65.52 low, (B) at $75.38 high & (C) at $58.42 low in the extreme area. Currently, it favors a rally in nine swings in (1) from 4.07.2025 low & expects upside before the next pullback. Above 4.07.2025 low, it should see a major rally in ((3)) of III, which confirms above $81.50 high. The next rally should erase the momentum divergence against ((1)) to confirm the nest.

Few alternatives are possible as well. (1) If the high comes with momentum divergence above February 2025 & fails below 4.07.2025 low. Then it can be diagonal in I from March 2020 low before a pullback. (2) If it breaks below $58.42 low, it can do double in ((2)) against March-2023 low before resuming higher. We like to buy the pullback in 3, 7 or 11 swings if it breaks above February 2025 high or if doing a double in ((2)).

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