Wells Fargo Came Into Today Down -1.23%

The Hourly View for Wells Fargo

  • At the time of this writing, WFC’s price is down $-0.08 (-0.21%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move up.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe.
  • 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

  • At the time of this writing, WFC’s price is down $-0.48 (-1.23%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved up.
  • Regarding the trend, note that the strongest trend exists on the 20 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Wells Fargo. Given that we see downtrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
  • Divergence between WFC’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in WFC’s price.

Below is a daily price chart of Wells Fargo.

WFC

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