Wells Fargo may fall to 44.80 - 46.80

Our pivot point stands at 58.3.

Our preference

The downside prevails as long as 58.3 is resistance.

Alternative scenario

Above 58.3, look for 61.9 and 64.

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 share stands below its 20 and 50 day moving average (respectively at 59.004 and 58.8864). Finally, Wells Fargo has penetrated its lower daily Bollinger band (55.52).

Supports and resistances

64 **

61.9 *

58.3 **

57

53.26 (USD-last)

48.8

46.8 **

44.8 *

42.8 **

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