Wells Fargo & Co. (WFC) was downgraded to a "Hold" Thursday by TheStreet's Quant Ratings service. This looks like a good time to check out the charts of WFC -- right as many market commentators are impressed with the strength in the financials.
In the daily Japanese candlestick chart of WFC, below, we can see that the shares have been strong since early November. WFC is trading above the rising 50-day moving average line as well as the rising 200-day line. We can see a bullish golden cross of these two averages in late December.
The trading volume has been neutral at best during the advance and the On-Balance-Volume (OBV) line has risen but has not kept up with the price advance. The Moving Average Convergence Divergence (MACD) oscillator is pointed up but has begun to narrow in recent days.