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Shares of Wells Fargo & Co Fall Below Previous 52-Week Low

By Nick Russo

Shares of Wells Fargo & Co (NYSE:WFC) traded today at $23.36, breaking its 52-week low. Approximately 3.1 million shares have changed hands today, as compared to an average 30-day volume of 41.8 million shares.

Wells Fargo & Company is a diversified financial services company providing banking, insurance, investments, mortgage, leasing, credit cards, and consumer finance. The Company operates through physical stores, the internet, and other distribution channels worldwide.

Wells Fargo & Co share prices have moved between a 52-week high of $54.75 and the current low of $23.36 and are currently at $23.39 per share. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 3.3%.

There is potential upside of 161.6% for shares of Wells Fargo & Co based on a current price of $23.39 and an average consensus analyst price target of $61.19. The stock should run into initial resistance at its 50-day moving average (MA) of $29.24 and subsequent resistance at its 200-day MA of $44.55.

SmarTrend recommended that its subscribers protect gains by selling shares of Wells Fargo & Co on April 21st, 2020 by issuing a Downtrend alert when the shares were trading at $26.88. Since that call, shares of Wells Fargo & Co have fallen 10.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows wells fargo & co

Ticker(s): WFC