Wells Fargo is neutral

Our pivot point stands at 62.2.

Our preference

Short term technical rebound towards 62.2 before a new drop.

Alternative scenario

Above 62.2, look for 65.4 and 67.3.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above its 20 day moving average (59.1315) but under its 50 day moving average (59.4218).

Supports and resistances

67.3 **

65.4 *

62.2 **

61

59.23 (USD-last)

55.4

53.6 **

51.7 *

49.8 **

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