Is Momentum Changing for Wells Fargo? Price Just Crossed Below Its 20 Day Moving Average

The Hourly View for Wells Fargo

  • At the time of this writing, WFC’s price is up $0.08 (0.17%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved down.
  • Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning above it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Wells Fargo’s hourly price chart is shown below.

WFC

The Daily View for Wells Fargo

  • Currently, WFC’s price is up $0.2 (0.44%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved down.
  • Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 20 day moving average, resulting in them with price now being above it. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Below is a daily price chart of Wells Fargo.

WFC

Featured Wells Fargo Commentary From Twitter

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