Wells Fargo & Company (WFC) Makes Big Move Relative to Two Week Trend, Up 1.1%; is Inching Close to 50 Day Average

Wells Fargo & Company 4 Hour Price Update

Updated September 08, 2020 04:26 PM GMT (12:26 PM EST)

WFC traders saw its share price fall -3.89% ($-0.96) over the past four hours of trading. To help put that in perspective, note that Wells Fargo & Company’s peers in the in the Banking industry are down -3.15% on average during this time, while its peers in the broader Financial Services sector are down by an average of -2.64%.

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 24.79 US dollars, up 1.1% ($0.27) since the day prior. The price move occurred on stronger volume; specifically, yesterday’s volume was up 15.02% from the day prior, and up 71.85% from the same day the week before. Below is a daily price chart of Wells Fargo & Company.

WFC

Wells Fargo & Company Technical Analysis

The first thing we should note is that the current price of Wells Fargo & Company is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. For another vantage point, consider that Wells Fargo & Company’s price has gone down 16 of the previous 30 trading days.

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about WFC:

    $WFC https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-cuts-wells-fargo-stake-17-years-2020-9-1029566739

    Warren Buffett's Berkshire Hathaway has slashed its Wells Fargo stake to its lowest level in 17 years.

    The famed investor's company revealed on Friday that it has cut its holdings to 136 million shares, representing 3.3% of the outstanding shares in America's third-largest bank. The last time it owned a percentage stake that small was 2003, according to Buffett's shareholder letter that year.

    harrypott45