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Tuesday, 04/17/2018 11:56:51 AM

Tuesday, April 17, 2018 11:56:51 AM

Post# of 1938
Know This Trade Level For Wells Fargo & Co

Wells Fargo & Co (NYSE:WFC) is a leading bank holding company in the U.S. and other countries. The stock has been under pressure since January 29, 2018 when it traded as high as $66.31 a share. Since that pivot high, the stock has been steadily declining. Today, WFC stock is trading at $50.91 a share. It should be noted that the stock is now trading below its important 50 and 200-day moving averages. This technical chart position usually indicates further weakness in the stock price near term. Traders must now keep an eye on the $48.00 area as the next major support level. This is where the stock broke out in November 2016. Often, prior breakout levels will be defended when initially retested.





Nicholas Santiago
InTheMoneyStocks
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