Wells Fargo had its Relative Strength (RS) Rating upgraded from 70 to 74 Tuesday before the market open -- a welcome improvement, but still shy of the 80 or higher score you look for.
When looking for the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's unique RS Rating identifies market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
History reveals that the market's biggest winners often have an RS Rating north of 80 as they launch their biggest climbs. See if Wells Fargo can continue to rebound and clear that threshold.
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Wells Fargo is building a cup with handle with a 47.24 entry. See if it can clear the breakout price in heavy volume.
Wells Fargo reported 6% earnings growth in its most recent report. Sales increased 7%.
Wells Fargo earns the No. 8 rank among its peers in the Banks-Money Centers industry group. UBS Group and Deutsche Bank are also among the group's highest-rated stocks.
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