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Watch for Wells Fargo to Potentially Pullback After Gaining 1.99% Yesterday
[January 10, 2013]

Watch for Wells Fargo to Potentially Pullback After Gaining 1.99% Yesterday

Jan 10, 2013 (SmarTrend(R) News Watch via COMTEX) -- Wells Fargo (NYSE:WFC) traded in a range yesterday that spanned from a low of $34.89 to a high of $35.40. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $35.15 on volume of 37.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Wells Fargo have traded between a low of $28.77 and a high of $36.60 and are now at $35.35, which is 23% above that low price. The 200-day and 50-day moving averages have moved 0.04% higher and 0.13% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Wells Fargo on December 12th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $33.64. Since that recommendation, shares of Wells Fargo have risen 3.2%. We continue to monitor WFC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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