Wells Fargo Companys stock price (WFC) inched up in the intraday levels while trying to recoup some recent losses, as it also vented off oversold saturation in the RSI, with negative pressure from the 50-day SMA, while the stock is hurt by piercing the upward short-term trend line.

Therefore we expect the stock to return lower, targeting the first support at $55.34, provided it settles below $58.45.

Trend forecast: Likely Bearish