Wells Fargo Stock Could Move Towards Resistance

When we look at the Wells Fargo (NYSE:) chart, we can see a gradual, steady uptrend for the past seven days, rising from the $53.50 support level into the $55 range, breaking over the $55.5 overhead resistance, well into the $56.5 range, and reaching as high as $57. It was last found trading at $55.96.

Wells Fargo will announce its today. We could expect the price to move upwards towards the $60 price range if earning expectations are surpassed. Today we can expect a move close to the $57 overhead resistance level.

If, however, it does not manage to hold on to the current level, then a move close to the $55.5 nearest support can be expected.

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