Wells Fargo Bullish Moving Average Crossover Alert (WFC)

Published on Thu, 01/24/2013 - 12:08
By Peter Chu in Moving average crossovers, wfc, moving crosses, nyse:wfc, wells fargo

Wells Fargo (NYSE:WFC) crossed over its 10-day moving average of $35.08 on a volume of 10.8 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Wells Fargo share prices have moved between a 52-week high of $36.60 and a 52-week low of $28.77 and are now trading 23% above that low price at $35.33 per share. The 200-day and 50-day moving averages have moved 0.02% higher and 0.28% higher over the past week, respectively.

Wells Fargo & Company is a diversified financial services company providing banking, insurance, investments, mortgage, leasing, credit cards, and consumer finance. The Company operates through physical stores, the Internet and other distribution channels across North America and elsewhere internationally.

There is potential upside of 10.0% for shares of Wells Fargo based on a current price of $35.33 and an average consensus analyst price target of $38.86. The stock should discover initial support at its 50-day moving average (MA) of $33.75 and subsequent support at its 200-day MA of $33.57.

By Peter Chu
pchu@fnno.com

Latest News from FNNO

Recent 52-Week Low Surpassed in Shares o...

Unisys (NYSE:UIS) traded at a new 52-week low today of $21.09. Approximately 5.1 milli ...

TransCanada: 52-Week High Recently Eclip...

TransCanada (NYSE:TRP) traded at a new 52-week high today of $51.46. So far today appr ...

Recent 52-Week High Exceeded in Shares o...

Shares of Trinity Industries (NYSE:TRN) traded today at $46.17, breaking its 52-week hi ...

Watch for Continued Gains in Shares of S...

Shares of Sasol (NYSE:SSL) traded today at $60.69, breaking its 52-week high. So far t ...

Shares of China Petroleum & Chemical Ris...

China Petroleum & Chemical (NYSE:SNP) traded today at a new 52-week high of $98.89. Ap ...

Saia Looks to Continue to Trade Above it...

Shares of Saia (NASDAQ:SAIA) traded at a new 52-week high today of $47.94. So far toda ...

Watch for Continued Gains in Shares of R...

Robert Half International (NYSE:RHI) traded today at a new 52-week high of $53.08. So ...

RPC Looks to Continue to Trade Above its...

RPC (NYSE:RES) traded at a new 52-week high today of $24.50. So far today approximatel ...