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Wells Fargo & Co Set to Possibly Pullback After Yesterday's Rally of 1.54%

By Amy Schwartz

Wells Fargo & Co (NYSE:WFC) traded in a range yesterday that spanned from a low of $50.54 to a high of $50.69. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $50.10 on volume of 6.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Wells Fargo & Co has traded in a range of $43.02 to $59.53 and is now at $50.69, 18% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.6%.

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: rebounders wells fargo & co

Ticker(s): WFC