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Wells Fargo & Co (WFC) Crosses Pivot Point Resistance at $47.09

By Amy Schwartz

Wells Fargo & Co (NYSE:WFC) has opened bullishly above the pivot of $46.50 today and has reached the first level of resistance at $47.09. Analysts will be watching for a cross of the next upside pivot targets of $47.40 and $48.30.

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 10% above that low price at $47.15 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.3%.

Wells Fargo & Co has overhead space with shares priced $47.15, or 22.9% below the average consensus analyst price target of $61.19. The stock should find initial resistance at its 50-day moving average (MA) of $49.15 and further resistance at its 200-day MA of $52.31.

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: pivot alerts wells fargo & co

Ticker(s): WFC