Wells Fargo (WFC) Closes Last Hour Up $0.08; in an Uptrend Over Past 14 Days, Price Base in Formation Over Past 30 Days, Breaks Above 100 Day Average

The Hourly View for WFC

Last Updated October 13, 2020, 02:013 GMT

At the time of this writing, WFC’s price is up $0.12 (0.49%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as WFC has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Wells Fargo & Company Daily Price Recap

The choppiness in the recent daily price action of Wells Fargo & Company continues; to start today, it came in at a price of 25.68 US dollars, up 1.5% ($0.38) since the day prior. This move happened on lower volume, as yesterday’s volume was down 8.72% from the day before — and down 33.72% from the same day the week before. The daily price chart of Wells Fargo & Company below illustrates.

WFC

Wells Fargo & Company Technical Analysis

Notably, Wells Fargo & Company crossed above its 100 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to view things another way, note that out of the past 14 days Wells Fargo & Company’s price has gone up 10 them.

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to WFC:

    $MYL was going to check the price on Berlin exchange but it seems it’s off that. Only Frankfurt and Vienna, curious πŸ€” is merger news coming? Banks like $GS $WFC $BAC better load up before $PFE does πŸ€‘πŸ€ŸπŸ’°πŸ’°πŸ’°

    everspring