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Watch for Wells Fargo & Co to Potentially Rebound After Falling 1.50% Yesterday

By James Quinn

Wells Fargo & Co (NYSE:WFC) traded in a range yesterday that spanned from a low of $53.63 to a high of $55.48. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $55.60 on volume of 21.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

In the past 52 weeks, shares of Wells Fargo & Co have traded between a low of $49.27 and a high of $66.31 and are now at $55.18, which is 12% 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%.

Keywords: rebounders wells fargo & co

Ticker(s): WFC