Wells Fargo (NYSE:WFC) has been steadily declining since March 1 when the stock traded as high as $59.99 a share. Today, WFC's stock is at $51.99, which is about $8 lower from the March peak. As you know, leading financial stocks in the U.S. have been under pressure recently as bond yields have declined.
Where are WFC's key support levels? There are two major chart support levels for Wells Farg. The first key area is around the $49 level, which is where WFC broke out in November 2016. The second key support level for WFC is around $45, which is major support because it's where the stock broke out of a bearish base. Very often, bearish pattern failures will be major support levels when retested.