Wells Fargo (WFC) Closes Prior Hour Up 0.23%; Breaks Above 20 and 50 Day Averages, Heads Up For the 4th Day In A Row, Eyes 50 Day Average

The Hourly View for WFC

Last Updated October 6, 2020, 01:017 GMT

At the time of this writing, WFC’s price is up $0.34 (1.44%) from the hour prior. This is the 2nd consecutive hour WFC has seen its price head up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50 and 100 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

Wells Fargo & Company is up 1.92% ($0.46) since yesterday, marking the 4th day in a row an upward move has occurred. This move happened on lower volume, as yesterday’s volume was down 14.32% from the day before — and down 48.17% from the same day the week before. Below is a daily price chart of Wells Fargo & Company.

WFC

Wells Fargo & Company Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Wells Fargo & Company crossed above its 20 and 50 day moving averages yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For another vantage point, consider that Wells Fargo & Company’s price has gone up 7 of the previous 10 trading days.

Overheard Around the Web

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

    $WFC More CC’s sold. 6 contracts 10/16/2020 $28s for $0.06 each. Which buys me…. 1 more WFC share Lol. I’ll gladly take 5-7 more shares every month for selling OTM CC’s, plus the dividend DRIP…

    RENEWABLEDIVIDENDS