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Wells Fargo & Co (WFC) Crosses Pivot Point Support at $45.46

By Nick Russo

Wells Fargo & Co (NYSE:WFC) has opened bearishly below the pivot of $45.91 today and has reached the first level of support at $45.46. Analysts will be watching for a cross of the next downside pivot targets of $44.88 and $43.85.

In the past 52 weeks, shares of Wells Fargo & Co have traded between a low of $43.02 and a high of $59.53 and are now at $44.91, which is 4% above that low price. 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%.

Wells Fargo & Co has overhead space with shares priced $44.91, or 26.6% below the average consensus analyst price target of $61.19. The stock should run into initial resistance at its 50-day moving average (MA) of $46.63 and subsequent resistance at its 200-day MA of $48.42.

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: pivot alerts wells fargo & co

Ticker(s): WFC