Wells Fargo (WFC) NewsBite - WFC Could Be On the Move

Posted: Thursday, November 05, 2009 10:35 AM EDT

Wells Fargo (WFC) could be on the move today and is now at $26.64, down $0.18 (-0.67%) on volume of 10,182,217 shares traded. Over the last 52 weeks the stock has ranged from a low of $7.80 to a high of $35.00. WFC was covered in a Lee Allen report today. To read the report, go to www.marketintelligencecenter.com/la110509 . Wells Fargo stock has been showing support around $25.82 and resistance in the $28.62 range. Technical indicators for the stock are neutral and S&P gives WFC a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on WFC the stock seems like it could be a candidate for a December out-of-the-money bear-call credit spread above the 30 range. [ABR-Seven Summits Strategic Investments NewsBite]

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