Wells Fargo (WFC) Approaches New Upside Target of $45.38
Shares of Wells Fargo (NYSE:WFC) have bullishly opened above the pivot of $44.79 today and have reached the first resistance level of $45.16. Should the shares continue to rise, the resistance pivots of $45.38 and $45.97 will be of interest.
Wells Fargo has overhead space with shares priced $45.33, or 23.1% below the average consensus analyst price target of $58.91. Wells Fargo shares should first meet resistance at the 50-day moving average (MA) of $49.18 and find additional resistance at the 200-day MA of $52.06.
Over the past year, Wells Fargo has traded in a range of $43.55 to $58.76 and is now at $45.33, 4% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.2%.
SmarTrend is monitoring the recent change of momentum in Wells Fargo. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Wells Fargo in search of a potential trend change.
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