Thursday, August 31, 2017 12:18:33 PM
As you all know, Wells Fargo & Co(NYSE:WFC) stock has been declining for quite some time now. The company was caught in a bogus account scandal that has resulted in numerous fines and congressional investigations. These problems at the bank are still lingering, but history suggests that Wells Fargo & Co will resolve these issues eventually.
Recently, the stock topped out on June 29th at $56.60 a share. Since that high pivot in the stock the price has now declined to $50.97 a share. The stock is also trading below its important 50 and 200-day moving averages. This formation puts the stock in a weak technical position. Traders and investors should watch the $46.00 area as the next major support level on the chart. This is an area that was defended in November 2016. Often, past levels that are support will be defended again when retested. This is a spot where the stock should catch a bid.
Nicholas Santiago
InTheMoneyStocks
Recent WFC News
- Wells Fargo Launches Signify Business Cash Mastercard® • Business Wire • 05/09/2024 12:03:00 PM
- Wells Fargo & Company Announces Full Redemption of its Series S Preferred Stock and Related Depositary Shares • Business Wire • 05/09/2024 12:00:00 PM
- Bain Capital in Talks to Acquire PowerSchool; Blackstone Emerges Victorious in Hipgnosis Bidding War, and More News • IH Market News • 05/09/2024 11:53:19 AM
- Fernando Rivas to Join Wells Fargo as Co-CEO of Corporate & Investment Banking • Business Wire • 05/08/2024 12:45:00 PM
- Wells Fargo & Company Announces Common Stock Dividend • Business Wire • 04/30/2024 07:00:00 PM
- Wells Fargo Announces Preliminary Voting Results of 2024 Annual Meeting of Shareholders • Business Wire • 04/30/2024 05:30:00 PM
- Wells Fargo Expands Down Payment Grant Program to Help Bridge Homeownership Gap • Business Wire • 04/25/2024 05:27:00 PM
- Li Auto Stock Drops 7.3% Amid Tesla Price Cuts, Salesforce Retreats from Informatica Deal, and Other Market Updates • IH Market News • 04/22/2024 12:09:21 PM
- United Shares Surge 5.3% in Q1 2024 Earnings Beat; Take-Two Cuts 5% of Workforce, and More News • IH Market News • 04/17/2024 10:57:39 AM
- Upbeat Earnings, Retail Sales Data May Generate Buying Interest • IH Market News • 04/15/2024 01:10:16 PM
- U.S. Stocks May Move Back To The Downside In Early Trading • IH Market News • 04/12/2024 01:10:09 PM
- U.S. Index Futures Indecisive Ahead of Banking Earnings, Oil Prices Surge • IH Market News • 04/12/2024 11:07:01 AM
- Wells Fargo Reports First Quarter 2024 Financial Results • Business Wire • 04/12/2024 11:02:00 AM
- Nasdaq Surges To New Record Closing High But Dow Closes Little Changed • IH Market News • 04/11/2024 08:25:37 PM
- Jason M. Rosenberg to Join Wells Fargo as Head of Public Affairs • Business Wire • 04/10/2024 11:00:00 AM
- U.S. Futures Dip Ahead of Key Inflation Data and Q1 Earnings Season Kickoff, Oil Prices Decline • IH Market News • 04/08/2024 11:19:03 AM
- Wells Fargo to Announce First Quarter 2024 Earnings on April 12, 2024 • Business Wire • 04/05/2024 12:00:00 PM
- Cal-Maine Surges on Strong Quarterly Performance, Taiwan Earthquake Disrupts Tech Supply Chain, and More • IH Market News • 04/03/2024 11:12:20 AM
- Analysts’ Recommendations for March 27th: FedEx, Visa, Uber, Adobe… • IH Market News • 03/27/2024 12:13:10 PM
- Wells Fargo Announces 2025 Earnings Release Date Information • Business Wire • 03/26/2024 12:00:00 PM
- CNOOC Oil Field Discovery in South China Sea, Grifols Surges 18% After KPMG Approval, and Latest News • IH Market News • 03/08/2024 11:19:59 AM
- Wells Fargo to Launch Autograph Journey(SM) Card Designed for Frequent Travelers • PR Newswire (US) • 03/06/2024 01:03:00 PM
- Futures Pointing To Continued Weakness On Wall Street • IH Market News • 03/05/2024 02:03:27 PM
- Flexible Financing to Provide Access to Rapidly Deployable EV Charging Stations Across the U.S. • Business Wire • 02/28/2024 02:00:00 PM
- Two-thirds of Americans have decreased spending due to economy, Wells Fargo Money Study finds • Business Wire • 02/27/2024 02:00:00 PM
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM