Wells Fargo had its Relative Strength (RS) Rating upgraded from 68 to 78 Tuesday — a welcome improvement, but still short of the 80 or higher score you prefer to see.
This proprietary rating measures market leadership by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research shows that the best stocks often have an RS Rating north of 80 in the early stages of their moves. See if Wells Fargo can continue to show renewed price strength and hit that benchmark.
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While now is not an ideal time to invest, see if the stock goes on to form a base and break out.
Top and bottom line growth moved higher last quarter. Earnings were up 10%, compared to 2% in the prior report. Revenue increased from -2% to 0%. Look for the next report on or around Apr. 11.
The company holds the No. 13 rank among its peers in the Banks-Money Centers industry group. Banco Bilbao Vizcaya ADR, Barclays ADR and Bk of NY Mellon are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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