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Archive
- 11/22/2024 -
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Wells Fargo (WFC) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a eighth consecutive positive week for the Wells Fargo (WFC). During the week, the WFC gained 1.82 points, or 2.45%, and closed at 75.96 on Friday, November 22, 2024. WFC was trading at average weekly trading volume.
WFC is a member of Financials Sector. Financials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See WFC long-term trend chart]
A long-term uptrend had started on March 24, 2023 at 35.25 and reached 76.08 on November 22, 2024. WFC gained -40.83 points, or -115.83%, in 87 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (52.96) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See WFC medium-term trend chart]
A medium-term uptrend had started on August 5, 2024 at 50.15 and reached 76.08 on November 22, 2024. WFC gained -25.93 points, or -51.70%, in 15 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See WFC weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since October 11, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See WFC short-term trend chart]
A short-term uptrend had started on September 12, 2024 at 50.22 and reached 76.08 on November 22, 2024. WFC gained -25.86 points, or -51.49%, in 71 days. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (75.67). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a short-term trend.
 Daily Technical Indicators: [See WFC daily technical indicators chart]
Daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.
The daily MACD line is above its signal line since November 5, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
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