Wells Fargo may rise to 62.90 - 64.80

Our pivot point is at 54.

Our preference

Short term rebound.

Alternative scenario

The downside breakout of 54 would call for 50.9 and 49.1.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the share stands above its 20 day moving average (55.029) but below its 50 day moving average (57.4494).

Supports and resistances

66.6 **

64.8 *

62.9 **

61.1

56.7 (USD-last)

55.1

54 **

50.9 *

49.1 **

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