Wells Fargo & Company (WFC) “On a long-term technical basis, the stock (WFC) is trading above its 200-day moving average, but has broken through an important support level, which implies it is in a neutral trend.

The stock has support at 48.93 and 43.38. If the stock breaks down through support at 48.93 then it will probably continue lower to 43.38. The stock has resistance at 49.64 and 52.17. If the stock breaks up through resistance at 49.64 then it will probably continue higher to 52.17. The 200-day moving average is at 48.93. This will also act as support. The stock’s long-term uptrend has changed into a sideways or downtrend. In this case, the stock will either go sideways for a while or sell-off back to where it started prior to the latest big upmove. This is a risky time for the stock, so be careful. Use caution during times like these, as the stock will be more volatile. Pay close attention to the Short-Term and Daily Opinion. The stock is extremely oversold according to the Stochastic Indicator (13.15), so look for a possible rebound soon. Confirm this with the Short-Term Opinion and Daily Opinion to keep from exiting prematurely.”