Wells Fargo Global Dividend Opportunity Stock Forecast

Wells Fargo Global Dividend Opportunity stock price ended at $4.62 on Thursday, after gaining 1.09%.
(Updated on May 02, 2024)

EOD Signals & Forecast

Mostly positive signals in the chart today. The Wells Fargo Global Dividend Opportunity stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $4.57 and $4.60. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 4.52%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Wells Fargo Global Dividend Opportunity has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.

Support, Risk & Stop-loss for Wells Fargo Global Dividend Opportunity stock

Wells Fargo Global Dividend Opportunity finds support from accumulated volume at $4.49 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.0600 (1.31%) between high and low. For the last week, the stock has had daily average volatility of 1.14%.

Our recommended stop-loss: $4.40 (-4.84%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)

Trading Expectations (EOD) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Wells Fargo Global Dividend Opportunity Fund to open at $4.61, and during the day (based on 14 day Average True Range), to move between $4.55 and $4.69, which gives a possible trading interval of +/-$0.0661 (+/-1.43%) up or down from last closing price. If Wells Fargo Global Dividend Opportunity Fund takes out the full calculated possible swing range there will be an estimated 2.86% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $4.66 (0.87%) than the support at $4.49 (2.81%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Wells Fargo Global Dividend Opportunity Fund stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Wells Fargo Global Dividend Opportunity stock to perform well in the short-term.

Current score: 3.364 Buy Candidate Unchanged

Predicted Opening Price for Wells Fargo Global Dividend Opportunity Fund of Friday, May 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.