In a welcome move, Wells Fargo & Company saw its Relative Strength Rating rise from 64 to 73 on Friday.
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength.
This unique rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the last 52 weeks compares to other publicly traded companies.
History shows that the best stocks typically have an RS Rating north of 80 in the early stages of their moves. See if Wells Fargo $ Company can continue to show renewed price strength and clear that threshold.
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While now is not an ideal time to jump in, see if the stock manages to form a base and break out. Rising interest rates may have an impact on banking in general.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 41%, compared to -23% in the prior report. Revenue increased from -13% to 11%.
The company holds the No. 17 rank among its peers in the Banks-Money Centers industry group. Toronto Dominion Bank and Goldman Sachs are also among the group's highest-rated stocks.
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