Wells Fargo share market forecast on 06th May 2015, Wednesday.

WELLS FARGO

Stock has formed head and shoulder pattern in daily chart as long as Wells Fargo holding below its trend line resistance trend will be mix, but once stock closes and holds above its trend line resistance as shown in above graph stock will show bullish breakout signal and further price rise can be seen in coming days. Visit link for more ideas on us stock market forecast.

Stock is on News today

Los Angeles sues Wells Fargo, alleging fraud by employees. Wells Fargo Bank employees driven by strict sales pressure and has issued unwanted credit cards and opened unauthorized accounts that charged customers fees and damaged their credit, according to a lawsuit filed by the city of Los Angeles.

S&P 500 free support and resistance chart updated on 06th May 2015, Wednesday.

S&P 500 INDEX

S&P 500 Index is witnessing strong selling pressure from its previous top this indicates as long as it holds below from its resistance zone bears will be favored and further price fall can be seen in coming days, Index will favor bulls once it closes and holds above its trend line resistance in daily chart as shown in above graph. Visit our site for more free support and resistance technical charts.

On down side Index will find strong support around its 100 days moving average, as shown in above graph index bounced back from its 100 DMA from two times, bulls will find some hopes for bounce backat 100 DMA, but if index fails to hold and starts trading below its 100 DMA support zone then further selling pressure can be seen in coming days.

Even index major trend indicator "MACD" indicating that it has now turned negative this indicates further weakness can be seen in coming days in s&p 500.

Nasdaq Composite tips for intraday trading updated on 06th May 2015, Wednesday.

NASDAQ COMPOSITE

Nasdaq composite is finding strong trend line support at current levels and so far graph indicates Nasdaq is trading below its trend line support zone, as long as it holds below bears will be favored and further price fall can be seen in coming days. But if it starts trading above then bulls will be favored.

Even Nasdaq major trend indicator "MACD" is trading in negative zone and other indicator Stochastic oscillator is too in negative zone this indicates once Nasdaq hold below trend line in intraday then can see come intraday bearish action. Visit our site for more intraday trading tips.

On Tuesday Nasdaq index closed at 4939.33 down by -77.60 pts. The total shares traded for the Nasdaq is approx 1.99 billion. There were 694 advanced and 2108 decline for trade on Tuesday.