Expected to report an EPS of $1.28 on revenue of $20.22bn

Wells Fargo is another key player who is to report its earnings tomorrow. The firm is expected to report earnings of $1.28 on revenue of $20.22bn. The stock’s shares are floating on the market for around $59.52 a share with what seems like low liquidity going into the earnings, as expected. The chart on the daily interval shows mixed outlooks at this moment in time, the stock has found support around $55.82 but it has also struggled to move above $61.36, which is now the near-term resistance here. A clear break and close above $61.36 following the earnings would provide greater confidence that investors may see a push toward May highs of $62.56. Looking in the opposite direction, if the support of $58.55 fails to hold out then a decline towards $57.40 would be likely. The technical indicators seem to be entering a neutral position to adjust for the earnings reaction.