• Return to Headlines

Wells Fargo (WFC) Crosses Pivot Point Support at $58.32

By David Diaz

Shares of Wells Fargo (NYSE:WFC) opened today below their pivot of $58.87 and have already reached the first level of support at $58.32. Investors may be interested in a cross of the next downside pivot targets of $57.98 and $57.09.

Wells Fargo has overhead space with shares priced $58.15, or 1.0% below the average consensus analyst price target of $58.74. The stock should find initial support at its 200-day moving average (MA) of $52.06 and further support at its 50-day MA of $49.18.

Over the past year, Wells Fargo has traded in a range of $43.55 to $59.99 and is now at $58.15, 34% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.2%.

SmarTrend recommended that subscribers consider buying shares of Wells Fargo on October 10th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $45.68. Since that recommendation, shares of Wells Fargo have risen 28.4%. We continue to monitor WFC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts wells fargo

Ticker(s): WFC