10.11.2014 - Wells Fargo & Company may be corrected in the near future

The stock price of Wells Fargo & Company after substantial correction has won back previously lost grounds and has now reached the inclined resistance level and the level of the local maximum near 53.00. Fixing the price above this mark will be the signal for continued growth to the levels 58.00, 60.00 and 63.00. Despite the strong upward momentum, we expect price correction in the near future to the level of 50.00 and recommend to open short positions in the short-term with the target near 50.00. Stop should be set above 84.00.

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