Wells Fargo may fall to 54.80 - 55.90

Our pivot point stands at 61.6.

Our preference

Target 55.9.

Alternative scenario

Above 61.6, look for 63.5 and 64.6.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the stock is trading under its 20 day moving average (60.6775) but above its 50 day moving average (59.0632).

Supports and resistances

64.6 **

63.5 *

61.6 **

60.9

59.48 (USD-last)

57

55.9 **

54.8 *

53.7 **

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