Yesterday Wells Fargo went up and closed at $54.11

26.02.2022

By Axiory Intelligence

Yesterday at a glance: Wells Fargo went up to $54.11, gaining 2.66% and closing at $52.71.

• The trading volume was 26.90 million which was slightly under the daily average of 30 million.

Before Monday's session: S&P 500 went up; it increased by 2.24% and traded at 4,384.65. Wells Fargo's stock price increased by 2.66%, while the Financial Services sector gained 1.37% — a positive day for both.

The company has a market cap of $206.41 billion with an average daily volume of 30 million; Wells Fargo has gained 6.85% this year. So far, it has been outperforming the S&P 500​ by 16.45%. Wells Fargo's last revenue report was $20.86 billion with an EPS of $1.38.

A chart visual study suggests Wells Fargo & Company's nearest resistance level is at $58.06, followed by $59.06 at the next level. Trend indicators show us that at $53.64, Wells Fargo made an initial breakout above 50 day Simple Moving Average, an indication of a positive trend. Asset volatility analysis shows that Wells Fargo's lower Bollinger band is at $52.45, indicating further gains might be next.

Overall, looking at the technical analysis landscape, it seems Wells Fargo might continue pointing upwards in the short term.

This green move in Wells Fargo's share price coincided with other financials stocks as Berkshire Hathaway made its largest single-day jump 3.56% ($10.96) since March 2021. PayPal was up 5.64%. HSBC Holdings traded at $36.27 after closing yesterday's trading day at $34.89 (up 3.96%).

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