Wells Fargo & Company (WFC) “On a long-term technical basis, the stock (WFC) is trading below its 200-day moving average which generally implies it is in a negative trend. If the new level of support at 22.56 holds, look for a bounce to the next resistance level at 23.33. If the stock breaks up through resistance at 29.62 a positive trend change is being attempted. Look for a possible long-term rally to previous highs.

The stock has support at 22.56 and 17.27. If the stock breaks down through support at 22.56 then it will probably continue lower to 17.27. The stock has resistance at 23.33 and at 25.36. If the stock breaks up through resistance at 23.33 then it will probably continue higher to 25.36. The 200-day moving average is at 30.12. This will also act as resistance. The stock is extremely oversold according to the Stochastic Indicator (18.36).”