When building your watch list, look for stocks with an 80 or higher RS Rating. Wells Fargo now meets that criteria, with a jump from 78 to 81 Wednesday.
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This unique rating tracks technical performance by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research shows that the stocks that go on to make the biggest gains often have an RS Rating of above 80 as they begin their biggest price moves.
Wells Fargo is building a double bottom with a 75.38 entry. See if it can clear the breakout price in heavy volume.
The company reported 6% earnings growth in its most recent report, while sales growth came in at -3%.
Wells Fargo holds the No. 14 rank among its peers in the Banks-Money Centers industry group. Barclays ADR, NatWest Group ADR and Royal Bank of Canada 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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