Wells Fargo & Company Daily Price Recap
Wells Fargo & Company’s 4 day negative streak has officially concluded, as the candle from the previous day closed up 5.54% ($1.49). The change in price came along side change in volume that was down 8.76% from previous day, but up 19.85% from the Sunday of last week. Here is a daily price chart of Wells Fargo & Company.
Wells Fargo & Company Technical Analysis
Coming into today Wells Fargo & Company is now close to its 20 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to view things another way, note that out of the past 10 days Wells Fargo & Company’s price has gone up 5 them.
Overheard Around the Web
Here’s what one trader on StockTwits recently had to say in regards to WFC:
$JPM $BAC $WFC $GS $C
Back in 2008, banks were part of the problem.
Now, though, banks are part of the solution. They have strong, asset heavy and highly liquid balance sheets, with mitigated risk. They’ve been prepping for a crisis like this over the past decade through multiple stress tests. And, this time around, banks will be helping the government in saving other sectors of the economy.