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Wells Fargo & Company (WFC) “On a long-term technical basis, the stock (WFC) is trading below its 200-day moving average which implies it is in a negative trend.
The stock has support at 25.06 and 23.37. If the stock breaks down through support at 25.06 then it will probably continue lower to 23.37. The stock has resistance at 35.95 and at 39.54. If the stock breaks up through resistance at 35.95 then it will probably continue higher to 39.54. The 200-day moving average is at 47.63. This will also act as resistance. The stock is extremely oversold according to the Stochastic Indicator (11.87), so look for a possible rebound soon. Confirm this with the Short-Term Opinion and Daily Opinion to keep from exiting prematurely.”
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