Wells Fargo Is Accelerating Towards $90
Wells Fargo shares have accelerated higher, gaining 8.0% over the past two weeks to reach $85.00. The move has the characteristics of the first leg in a new upside trajectory. After testing trend support at $58.40 in April, the stock rebounded quickly to $72.00 in May and then consolidated sideways for three months. The recent breakout signals renewed momentum, with a near-term target zone at $90.00–93.00.
From a trading perspective, a long entry between $82.00–85.00 appears attractive. A protective stop could be set at $75.50 to manage downside risk.
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