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Wells Fargo (WFC) Crosses Pivot Point Resistance at $35.29
[January 29, 2013]

Wells Fargo (WFC) Crosses Pivot Point Resistance at $35.29

Jan 29, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Wells Fargo (NYSE:WFC) opened today above their pivot of $35.07 and have already reached the first level of resistance at $35.29. Should the shares continue to rise, the resistance pivots of $35.47 and $35.87 will be of interest.

Wells Fargo share prices have moved between a 52-week high of $36.60 and a 52-week low of $28.98 and are now trading 21% above that low price at $35.15 per share. The 200-day and 50-day moving averages have moved 0.08% higher and 0.51% higher over the past week, respectively.

Wells Fargo (NYSE:WFC) has potential upside of 10.6% based on a current price of $35.15 and analysts' consensus price target of $38.86. The stock should find initial support at its 50-day moving average (MA) of $33.92 and further support at its 200-day MA of $33.60.

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 4.4%. 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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