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Watch for Wells Fargo & Co to Potentially Rebound After Falling 3.66% Yesterday

By David Diaz

Wells Fargo & Co (NYSE:WFC) traded in a range yesterday that spanned from a low of $44.24 to a high of $45.01. Yesterday, the shares fell 3.7%, which took the trading range below the 3-day low of $45.33 on volume of 11.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Wells Fargo & Co share prices have moved between a 52-week high of $59.53 and a 52-week low of $43.02 and are now trading 3% above that low price at $44.26 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.2%.

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