Wells Fargo may rise to 61.40 - 63.40

Our pivot point stands at 52.

Our preference

Short term rebound towards 61.4.

Alternative scenario

The downside breakout of 52 would call for 48.7 and 46.7.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 55.91 and 57.604).

Supports and resistances

65.4 **

63.4 *

61.4 **

59.4

55.33 (USD-last)

53.3

52 **

48.7 *

46.7 **

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