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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 support at 25.11 and 22.06. If the stock breaks down through support at 25.11 then it will probably continue lower to 22.06. The stock has resistance at 25.91 and at 30.46. If the stock breaks up through resistance at 25.91 then it will probably continue higher to 30.46. The 200-day moving average is at 40.06. This will also act as resistance. The stock is extremely oversold according to the Stochastic Indicator (22.39), and turning up, which suggests a pause or possible rebound, especially if near support. Confirm this with the Short-Term and Daily Outlook to keep from exiting prematurely.”
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