Wells Fargo may fall to 44.40 - 46.30

Our pivot point stands at 55.4.

Our preference

The downside prevails as long as 55.4 is resistance.

Alternative scenario

The upside breakout of 55.4 would call for 58.7 and 60.6.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 57.353 and 58.1512).

Supports and resistances

60.6 **

58.7 *

55.4 **

54.1

52.76 (USD-last)

48.2

46.3 **

44.4 *

42.4 **

Number of asterisks represents the strength of support and resistance levels.