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Wells Fargo (WFC) Approaches New Upside Target of $54.52

By Amy Schwartz

Shares of Wells Fargo (NYSE:WFC) have bullishly opened above the pivot of $53.93 today and have reached the first resistance level of $54.20. Should the shares continue to rise, the resistance pivots of $54.52 and $55.11 will be of interest.

Wells Fargo share prices have moved between a 52-week high of $59.99 and a 52-week low of $43.55 and are now trading 25% above that low price at $54.44 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has slid 0.3%.

There is potential upside of 7.9% for shares of Wells Fargo based on a current price of $54.44 and an average consensus analyst price target of $58.74. The stock should discover initial support at its 200-day moving average (MA) of $52.06 and subsequent support at its 50-day MA of $49.18.

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.

Keywords: pivot alerts wells fargo

Ticker(s): WFC