Technical Analysis Alert for Wells Fargo & Company (WFC)
Published on 07/29/2010 by Leo Goldman
Shares of WFC touched the 50-day moving average from above but failed to break through the widely
watched support line. If the stock price remains above the critical 50-day moving average, then
investors may continue to buy the shares in anticipation of an upward price move.
If shares of Wells Fargo & Company fall below the support line, the trend of the stock may change.
The stock might become bear or neutral and traders may need to rely on other indicators as part of their
strategy to determine what action to take concerning the stock.
Shares of Wells Fargo & Company closed at $28.07 in the previous trading session and opened today at $28.35.
WFC is currently trading at $27.69, down $0.38 (-1.35%) in today's trading session.
The shares of the stock are trading between the range of $27.48 - $28.49. Today's price change was accompanied by a volume of 30,045,420 shares which
is less than the average volume of 45,713,100 shares.
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