Wells Fargo may rise to 71.30 - 73.40

Our pivot point stands at 61.4.

Our preference

The upside prevails as long as 61.4 is support.

Alternative scenario

Below 61.4, expect 58 and 55.9.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 59.1205 and 56.8664).

Supports and resistances

75.4 **

73.4 *

71.3 **

69.3

64.81 (USD-last)

62.7

61.4 **

58 *

55.9 **

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