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Watch for Wells Fargo & Co to Potentially Rebound After Falling 1.57% Yesterday

By James Quinn

Wells Fargo & Co (NYSE:WFC) traded in a range yesterday that spanned from a low of $52.76 to a high of $53.05. Yesterday, the shares fell 1.6%, which took the trading range below the 3-day low of $53.55 on volume of 1.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Wells Fargo & Co have traded between a low of $43.02 and a high of $55.04 and are now at $52.78, which is 23% above that low price. The 200-day and 50-day moving averages have moved 0.11% higher and 0.42% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Wells Fargo & Co on October 15th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $50.02. Since that recommendation, shares of Wells Fargo & Co have risen 7.2%. We continue to monitor WFC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders wells fargo & co

Ticker(s): WFC