Wells Fargo may fall to 54.80 - 55.70

Our pivot point stands at 60.7.

Our preference

The downside prevails as long as 60.7 is resistance.

Alternative scenario

Above 60.7, look for 62.2 and 63.1.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the share stands below its 20 and 50 day moving average (respectively at 60.5335 and 59.2404).

Supports and resistances

63.1 **

62.2 *

60.7 **

60.1

58.7 (USD-last)

56.6

55.7 **

54.8 *

53.9 **

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