Wells Fargo Near Major Resistance
05/06/2009 1:46 pm EST
Wells Fargo (WFC) has been strong this morning and is currently trading above its 200-day MA. The major 50% retracement resistance is at $26.40 with the 61.8% level at $30.50. This suggests that the rally in WFC could stall over the next few weeks. First good support is at $19.20.