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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 generally implies it is in a negative trend. The stock has broken down through support at 28.23, so look for new support at 21.97.
The stock has support at 23.33 and 22.06. If the stock breaks down through support at 23.33 then it will probably continue lower to 22.06. The stock has resistance at 23.90 and at 25.50. If the stock breaks up through resistance at 23.90 then it will probably continue higher to 25.50. The 200-day moving average is at 36.64. This will also act as resistance. The stock is extremely oversold according to the Stochastic Indicator (15.71).”
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