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Watch for Shares of Wells Fargo & Co (WFC) to Approach Support at $50.21

By James Quinn

Shares of Wells Fargo & Co (NYSE:WFC) opened today below their pivot of $50.50 and have already reached the first level of support at $50.32. Analysts will be watching for a cross of the next downside pivot targets of $50.21 and $49.92.

In the past 52 weeks, Wells Fargo & Co share prices have been bracketed by a low of $43.02 and a high of $59.53 and are now at $50.19, 17% above that low price. The 200-day and 50-day moving averages have moved 0.2% lower and 0.69% higher over the past week, respectively.

There is potential upside of 21.9% for shares of Wells Fargo & Co based on a current price of $50.19 and an average consensus analyst price target of $61.19. The stock should hit resistance at its 200-day moving average (MA) of $52.94, as well as support at its 50-day MA of $49.09.

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: pivot alerts wells fargo & co

Ticker(s): WFC