Wells Fargo Stock Forecast

Wells Fargo stock upgraded from Buy Candidate to Strong Buy Candidate after Thursday trading session.
(Updated on Apr 18, 2024)

WFC Signals & Forecast

The Wells Fargo 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 $57.06 and $57.10. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, February 09, 2024, and so far it has risen 22.22%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Wells Fargo stock

Wells Fargo finds support from accumulated volume at $57.61 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.91 between high and low, or 3.34%. For the last week the stock has had daily average volatility of 2.52%.

Our recommended stop-loss: $56.45 (-3.90%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 47 days ago.)

Trading Expectations (WFC) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Wells Fargo & Company to open at $58.36, and during the day (based on 14 day Average True Range), to move between $57.55 and $59.93, which gives a possible trading interval of +/-$1.19 (+/-2.02%) up or down from last closing price. If Wells Fargo & Company takes out the full calculated possible swing range there will be an estimated 4.04% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $57.61, some $1.13 (1.92%) from the current price of $58.74, our system finds the risk reward attractive.

Is Wells Fargo & Company stock A Buy?

Wells Fargo holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 6.635 Strong Buy Candidate Upgraded

Predicted Opening Price for Wells Fargo & Company of Friday, April 19, 2024

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