$WFC Wells Fargo & Company Stock Robo Analyst June 8 2020 #WFC

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 31.64 suggesting the long-term down trend could be turning neutral. If this new level of support at 31.64 holds, look for a move higher to the next resistance level at 36.06.

The stock has support at 31.64 and 27.38. If the stock breaks down through support at 31.64 then it will probably continue lower to 27.38. The stock has resistance at 33.91 and at 36.06. If the stock breaks up through resistance at 33.91 then it will probably continue higher to 36.06. The 200-day moving average is at 42.86. This will also act as resistance. The stock is extremely overbought according to the Stochastic Indicator (83.74).”