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Bearish Moving Average Cross by Wells Fargo & Co (WFC)

By Amy Schwartz

Wells Fargo & Co (NYSE:WFC) shares have crossed bearishly below their 10-day moving average of $55.82 on a volume of 10.2 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Wells Fargo & Co share prices have been bracketed by a low of $49.27 and a high of $66.31 and are now at $54.23, 10% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

SmarTrend is tracking the current trend status for Wells Fargo & Co and will alert subscribers who have WFC in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses wells fargo & co

Ticker(s): WFC