Actionable news
0
All posts from Actionable news
Actionable news in WFC: WELLS FARGO & CO.,

Wells Fargo Swings From a Technical 'Golden Cross' to a 'Death Cross'

NEW YORK (TheStreet) -- Investors looking at Wells Fargo's (WFC - Get Report) daily technical chart know that the stock had been trading above a "golden cross" since January 2012, and that after trading to an all-time intraday high on July 23, it fell under a "death cross" on Sept. 24. A "death cross" is when the 50-day simple moving average falls below the 200-day simple moving average, indicating trouble for the stock.

The "too big to fail" bank reports earnings before the opening bell on Wednesday, and has not yet recovered from the damage done by the Aug. 24 flash crash, or "Black Monday."

Of the four biggest banks, Jim Cramer favors Wells Fargo. Here's how to trade the stock.

Analysts expect Wells Fargo to earn $1.04 a share. Some expect the bank to benefit from its purchase of GE (GE - Get Report)...


More