Wells Fargo Technical Analysis (NYSE:WFC)
Technical analysis relies on the belief that future price movements of a stock can be forecasted through the study of historical market data and technical charts. Just by looking at the Wells Fargo stock price one can't take a trading decision. A trader needs to find a chart pattern, which is a clear cut pattern formation on the WFC stock chart which creates a trading signal.
View technical indicators like moving averages - SMA and EMA, and bollinger bands for Wells Fargo. The technical analysis form of Wells Fargo stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
Wells Fargo Moving Average
Moving averages show the average price of WFC stock over a set time period and help traders see the overall trend by smoothening out the daily variation in price movement. The 20 day moving average of $54.86 is below the last closing price of $54.98 and the 50 day moving average of $53.53 is below the last closing price of $54.98. The 10 and 20 day periods can predict short term moving average trends.
Wells Fargo Bollinger Bands
Bollinger bands consist of two price bands above and below a center line for any company stock like Wells Fargo. The tightening of bands is considered by most traders to be a precursor to sudden increase in volatility. The stock price is trading between the average and the upper band in the context of Wells Fargo bollinger bands.
Wells Fargo Moving Average Convergence Divergence or MACD
The moving average convergence divergence or MACD is a technical indicator which helps gauge the stock price trend, as the indicator is useful in understanding the strength, direction and momentum of the stock price. The Wells Fargo MACD indicator is below 0 indicating a bearish trend.
Wells Fargo Relative Strength Index
This technical indicator compares the relative strength or weakness of a stock. It measures the magnitude of rise or fall in stock price movements . The relative strength index of WFC stock is 50.57.