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Wells Fargo & Co Set to Possibly Rebound After Yesterday's Selloff of 1.04%

By Shiri Gupta

Wells Fargo & Co (NYSE:WFC) traded in a range yesterday that spanned from a low of $54.48 to a high of $55.35. Yesterday, the shares fell 1.0%, which took the trading range below the 3-day low of $55.09 on volume of 8.1 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 $49.27 and a high of $66.31 and are now at $54.66, which is 11% 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 0.4%.

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