Wells Fargo WFC April 13, 2009 4/13/09

The following is stock analysis of Wells Fargo ( WFC ) for 4/13/09

Wells Fargo Support and Resistance Levels - April 13, 2009

Resistance: $19.60, $21.06, $22.50

Support: $17.50, $16

http://stockcharts.com/ - Chart

Wells Fargo WFC Stock exploded higher on earnings news out during pre market on Thursday. The previous resistance level of $17.50 was gapped over. The technicals are almost perfect here, we saw a huge gap near $20, a sell-off during the morning, testing $17.50, and then a rebound back toward the highs. $17.50 from here on out becomes a critical support level. A close below $17.50 and I would be a seller of WFC. On the upside, I don't see any major resistance until $21.06 and then $22.50. I am also monitoring the 200 day moving average at $24.57. Pullbacks should be bought! Jim Cramer was on CNBC during the afternoon of 4/9/09 and said WFC could eventually trade to $26 based on future earnings. For More Technical Analysis - Go Here

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