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Look for Shares of Wells Fargo & Co to Potentially Pullback after Yesterday's 2.49% Rise

By Nick Russo

Wells Fargo & Co (NYSE:WFC) traded in a range yesterday that spanned from a low of $49.35 to a high of $49.92. Yesterday, the shares gained 2.5%, which took the trading range above the 3-day high of $49.07 on volume of 6.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Wells Fargo & Co share prices have been bracketed by a low of $43.02 and a high of $55.04 and are now at $49.86, 16% above that low price. The 200-day and 50-day moving averages have moved 0.14% higher and 0.03% lower over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Wells Fargo & Co. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Wells Fargo & Co in search of a potential trend change.

Keywords: rebounders wells fargo & co

Ticker(s): WFC