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Stock Charts AI Power Rank: 9.4
Power Rank trend -> Rising
07/08/2024 10:37:00 EST
Wells Fargo & Company (WFC)
Industry: Banks - Diversified
Follow @stockchartsai on TwitterPrice Support Resistance
In the past 20 trading days, WFC has been trading in a range between $60.59 and $57.01 (gray range band). Red lines on the chart represent key resistance levels and Green lines represent key support levels. As the price moves above the lines you will notice they turn green and red if price moves below a line.
WFC is trading below resistance at $62.34, about 5% to the upside. There is support at $58.36 -2% to the downside. If it can break above the resistance, it could have some more upside. If the price starts to turn down and fails to get through this level or enters a yellow zone, we would consider profit taking or exiting the position. If it enters a red zone on the chart we would exit the position.
Upside / Downside Potential
Wells Fargo & Company $WFC entered a Green zone 5 days ago on the AI powered stock chart. Wall Street analysts have an AVG target price $50.61, a potential down side of -15.11% from the recent price of 59.62. The stock is trading 4.91% (potential upside) below its 52 week high of $62.55 and 57.77 % (potential downside) above its 52 week low of $37.79 - based on the recent price.
Company Summary
Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management. The Consumer Banking and Lending segment offers diversified financial products and services for consumers and small businesses.
News
| JPMorgan downgraded on valuation, while Bank of America shines as top pick: analyst JPMorgan Chase & Co. on Monday drew a downgrade to peer perform while Bank of America Corp. was highlighted as a top pick at Wolfe Research before the big banks deliver profit updates in the coming days. Source: Market Watch Mon, 08 Jul 2024 09:30:00 -0400 Sentiment: Neutral |
| 5 Things To Consider Ahead Of Wells Fargo's Q2 2024 Earnings Wells Fargo, which outperformed its peers, will report quarterly results on Friday before markets open. Wells Fargo stock traded in a narrow range between $57.00-$61.00, struggling to break above $60 despite strong stock grades. Last quarter (in Q1/2024), results met Wall Street estimates with strong earnings, lower credit losses, and net loan charge-offs. Source: Seeking Alpha Sun, 07 Jul 2024 09:00:51 -0400 Sentiment: Positive |
| JPMorgan Chase, Citi and Wells Fargo earnings to follow relative strength in their stocks JPMorgan Chase & Co., Wells Fargo & Co and Citigroup Inc. all report second-quarter earnings on Friday next week after relative strength in their stock prices this year as investors continue to lean into the U.S.'s largest banks as havens from banking sector woes. Source: Market Watch Fri, 05 Jul 2024 09:01:00 -0400 Sentiment: Positive |
| Wells Fargo to Announce Second Quarter 2024 Earnings on July 12, 2024 SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo & Company (NYSE: WFC), as previously announced, will report its second quarter 2024 earnings results on Friday, July 12, 2024, at approximately 7:00 a.m. Eastern time. The results will be available online at https://www.wellsfargo.com/about/investor-relations/quarterly-earnings/. In addition to being available on the company's Investor Relations website, the earnings results also will be available on the Securities and Exchange Commission website. Source: Business Wire Fri, 05 Jul 2024 08:00:00 -0400 Sentiment: Neutral |
| Wells Fargo: Shareholder Distributions And Regulatory Relief Could Drive Further Upside I see Wells Fargo's strong commercial momentum to continue and project that future upside is underpinned by strategic investments in growth areas, improved efficiency, and a competitive deposit franchise, amongst others. The bank's robust capital position and attractive valuation support the argument for shareholder rewards, likely in excess of a 10% yield this year. I expect that a potential lifting of regulatory restrictions in 2024 could unlock a strong catalyst for share price upside, as investors reprice WFC's growth outlook. Source: Seeking Alpha Thu, 04 Jul 2024 08:20:17 -0400 Sentiment: Positive |
Technicals 52 Week Hi: 62.55 52 Week Low: 37.7853 Beta: 1.168 50 Day MA: 59.5546 200 Day MA: 51.2283 Earnings / Revenue Trends Qtr Earnings Growth YOY: -0.024 Qtr Revenue Growth YOY: 0.021 Forward PE: 11.8343 Trailing PE: 12.4208