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- 1 WFC stock price decreased by 4.52% over the past week and by 1.19% over the past day.
- 2 Wells Fargo & Company ( NYSE: WFC) stock’s 52-week price range is $35 – $48.
Wells Fargo & Company shares are trading downwards from the afternoon on Tuesday, August 8th. The shares of financial and banking services stocks price are trading lower after a Fitch analyst highlighted that Fitch might downgrade additional lenders. As per Benzinga, a finance news-providing website. Moreover, when a brilliant credit rating agency like Fitch highlights potential demotion for lenders, it raises concerns regarding the whole banking sector’s financial health. This might trigger downward emotions among traders and investors, and give rise to selling pressure on shares across the sector, including Bank of America and Wells Fargo.
Wells Fargo has a debt-to-equity ratio of 151.9%, as reported by Simply Wall St. This implies that it has more debt than equity, which is the difference between its total assets and total liabilities. Wells Fargo’s debt is $366.343 Billion, while its equity is $200.497 Billion. Moreover, Wells Fargo & Company’s (WFC) stock market capitalization is $154.474 Billion and the total revenue is $96.029 Billion. The stock’s basic EPS is $4.04 and the price-to-earnings ratio is 10.66.
WFC stock average volume is 13.247 Million and the current volume is 10.077 Million where the current volume is below average volume. Wells Fargo publicized about dividend amount payout on August 3rd, the amount for the dividend is $0.35, and the payment date is on September 1st, 2023.
WFC Stock Price Technical Analysis in 1-D Timeframe
The price action shows that Wells Fargo Platforms Inc. ( NYSE: WFC) stock price took rejection at $47.03 and has been on a declining trend since July, 21st 2023, by making lower highs and lows.
At the time of writing, WFC stock is trading at around $42.22 and facing nearest resistance around $44.31 and declining.
Therefore, if the WFC price fails to sustain the current level and drops, it might hit the nearest support levels of $40.42 and $37.45.
However, if it maintains the current level, the WFC prices could continue to move upward and reach the first and second resistances of $44.31 and $47.03.
At the time of publishing, Wells Fargo & Company. (NYSE: WFC) is trading below the major 20, 50, 100, and 200-day EMA (exponential moving averages), which rejects the WFC price trend.
Hence, the WFC price is expected to move downwards showing a bearish overview over the daily time frame chart.
The current value of RSI is 34.72 points. The 14 SMA is below the median line at 49.68 points which indicates that Wells Fargo stock is in bearish territory and the RSI line took rejection from 14 SMA and is headed towards an oversold zone indicating bearishness.
The MACD line at 0.2151 and signal line at 0.2450 are below the zero line and both lines have crossed each other. A bearish crossover is noticed in the MACD oscillator which expresses bearishness for the Wells Fargo stock price.
Summary
Wells Fargo & Company (NYSE: WFC) indicates that the investors and traders of the stock price are bearish on the 1-D time frame. The price action shows a bearish view at the time of publishing. The technical analysis tools of Wells Fargo stock price also support bearishness. The EMA, RSI, and MACD highlight downward signals and indicating that a downtrend in Wells Fargo stock price may continue.
Technical Levels
- Support levels: The nearest support levels for Wells Fargo stock price are $40.42 and $37.45.
- Resistance levels: The nearest resistance levels for the Wells Fargo stock price are $44.31 and $47.03.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
