Wells Fargo (WFC) Offering Possible 27.88% Return Over the Next 13 Calendar Days

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Wells Fargo’s most recent trend suggests a bearish bias. One trading opportunity on Wells Fargo is a Bear Call Spread using a strike $58.50 short call and a strike $63.50 long call offers a potential 27.88% return on risk over the next 13 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $58.50 by expiration. The full premium credit of $1.09 would be kept by the premium seller. The risk of $3.91 would be incurred if the stock rose above the $63.50 long call strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for Wells Fargo is bearish and the probability of a decline in share price is higher if the stock starts trending.

The 20-day moving average is moving down which suggests that the medium-term momentum for Wells Fargo is bearish.

The RSI indicator is at 40.47 level which suggests that the stock is neither overbought nor oversold at this time.

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LATEST NEWS for Wells Fargo

[$$] Justice Department Probing Wells Fargo’s Wholesale Banking Unit
Fri, 07 Sep 2018 00:11:53 +0000
The Justice Department is probing whether employees committed fraud in Wells Fargo & Co.’s wholesale banking unit, following revelations that employees improperly altered customer information, people familiar with the matter said. The Wall Street Journal previously reported that some employees in the unit added information on customer documents, such as Social Security numbers and dates of birth, without their consent. The Justice Department in recent weeks has sought more information from the bank to examine if management pressure prompted the employees to improperly alter or add the information, the people said.

U.S. probing Wells Fargo’s wholesale banking unit: WSJ
Thu, 06 Sep 2018 23:13:29 +0000
The department has sought more information from the bank to see if management pressure prompted the employees to improperly alter or add the information prior to a regulatory deadline, the Journal reported, citing the same people. The Justice Department is interested in learning if there is a pattern of unethical and potentially fraudulent employee behavior tied to management pressure, the WSJ reported.

WSJ: Feds investigating Wells Fargo’s wholesale banking unit
Thu, 06 Sep 2018 20:19:55 +0000
The Justice Department is investigating potential employee fraud at Wells Fargo & Co.’s wholesale banking unit, according to a published report. Citing unnamed people familiar with the probe, The Wall Street Journal reported Thursday that investigators are trying to determine whether management at the bank pressured employees to improperly alter customer information without consent. The investigation stems from revelations that employees in the wholesale banking unit, which caters to corporate customers, added Social Security numbers, dates of birth and other customer information to documents in a bid to beat a regulatory deadline, the newspaper said.

Wells Fargo under federal investigation for potential fraud in wholesale banking unit
Thu, 06 Sep 2018 18:47:31 +0000
Wells Fargo & Co. is facing another federal investigation — this time related to claims of wholesale banking employees who altered and/or added information to documents without customers’ knowledge.

Wells Fargo’s Wholesale Banking Unit Faces DOJ Probe: WSJ
Thu, 06 Sep 2018 15:50:33 +0000
Wells Fargo & Co.’s wholesale-banking unit is reportedly being investigated by the Justice Department on whether employees committed fraud by altering customer data. Bloomberg Intelligence’s Alison Williams …

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