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. However, the stock has broken up through an important long-term fibonacci resistance level at 16.78 suggesting the long-term down trend could be turning neutral. If this new level of support at 23.90 holds, look for a move higher to the next resistance level at 25.36.

The stock has support at 23.90 and 22.56. If the stock breaks down through support at 23.90 then it will probably continue lower to 22.56. The stock has resistance at 24.03 and at 25.36. If the stock breaks up through resistance at 24.03 then it will probably continue higher to 25.36. The 200-day moving average is at 32.34. This will also act as resistance. The stock is slightly oversold according to the Stochastic Indicator (29.72).”