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Downgrade Alert for Wells Fargo (WFC)Jun 14, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Wells Fargo (NYSE:WFC) was downgraded from Buy to Neutral at Sterne Agee today. The stock closed yesterday at $40.94 on volume of 17.4 million shares, below average daily volume of 20.9 million. Wells Fargo (NYSE:WFC) has potential upside of 0.4% based on a current price of $40.94 and analysts' consensus price target of $41.10. The stock should find initial support at its 50-day moving average (MA) of $38.72 and further support at its 200-day MA of $35.72. In the past 52 weeks, Wells Fargo share prices have been bracketed by a low of $30.34 and a high of $41.69 and closed yesterday at $40.94, 35% above that low price. The 200-day and 50-day moving averages have moved 0.37% higher and 0.82% 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. 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 21.7%. 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 [email protected] --------------------------------------------------------------------------------------------- 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 http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |