WFC is expected to bounce from its upward support trend line; however, a weekly close below recent support levels increases the risk of a drop to $80.12.

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.

If we close below those lower support levels at the end of this week, it increases the likelihood of the price falling further, and where will it go? Right here on this upward trend line.

If you also add the Fibonacci retracement chain, notice what crosses here in that area, the 618 retracement level at $80.12. We can fluctuate down to this level, meet the support of the upward trend line, and bounce directly upwards towards the consolidation pivots in the lower range at around 84.05.