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Investors Business Daily
Investors Business Daily
Business
INVESTOR'S BUSINESS DAILY and GLENN LARKIN

Wells Fargo Stock, Flashing Renewed Technical Strength, Gaps Up

The Relative Strength (RS) Rating for Wells Fargo climbed into a key, new percentile Thursday, with an increase from 79 to 82.

When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.

This unique rating tracks technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the last 52 weeks matches up against other publicly traded companies.

Over 100 years of market history reveals that the stocks that go on to make the biggest gains often have an RS Rating north of 80 as they launch their biggest price moves.

See How IBD Helps You Make More Money In Stocks

Wells Fargo was in a buy range after clearing a 47.24 entry in a cup with handle yesterday. As of this writing, it has already cleared the  proper buying range, which is up to 5% above the initial entry. Once a stock moves above that range (currently it is 6% above) it's best to hold off investing and wait for it to set up another buying opportunity.

WFC Stock Earnings

The company posted 6% earnings growth in its most recent report. Sales rose 7%. Look for the next report on or around Jan. 12.

Wells Fargo holds the No. 8 rank among its peers in the Banks-Money Centers industry group. Deutsche Bank and HSBC Holdings ADR are also among the group's highest-rated stocks.

Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks

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