Wells Fargo, XLF Charts: More Downside

A little over two weeks ago, I took a look at Wells Fargo (WFC Quote) after a downgrade from analyst Dick Bove.

I talked about the battle zone in the $28-to-$30 range, and indeed, the bulls and bears have fought for that ground since the article was published.

Last week, however, the market released some more information. What it showed us was that Wells Fargo could trade lower than the $28 dollar support spike price point from the May time frame.