For now, the stock is holding the 44ish level. That level has held as support on a few occasions, see chart.
The next is the 40ish level.
A break under the later and it could get pretty hairy.
If long or looking to get long, I would stop out somewhere under the 40 level.
Hello, in case you have not been paying attention, this company has been getting killed in the media, rightly so, in my opinion.
Is the scandal so bad it will permanently damage the business? I have read both sides and quite frankly, neither side knows.
The question to ask is this a mispriced bet? How much are you willing to risk to find out if the bears are wrong and how long are you willing to hold? What will tell you if you are wrong? At what price are you going to get out at?
Just some questions to keep in mind.
Before buying any stock, always ask why you are buying it.
Is this a swing trade?
Am I buying based on technicals, fundamentals, or some combination of the two?
Is this a day trade(I don't ever recommend)?
Am I buying this as a core long-term holding?
Whatever the reason, write it down.
Wells Fargo sports a div yield of 3.42%: https://www.google.com/finance?q=NYSE:WFC
Div history: http://www.nasdaq.com/symbol/wfc.prj/dividend-history
Always think for yourself