Wells Fargo stock: buy or sell
Updated on:
Jan 18th, 2021
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Wells Fargo stock brief
- Wells Fargo closed last Friday at $32.04 after sinking a -7.80%.
- Wells Fargo presented its earnings report last Friday
- Price is drawing a scaled uptrend since last October with higher tops and higher bottoms. Up to date, price made a 55.01% gain since the beginning of this rally
Should I buy Wells Fargo stock?
All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $WFC stock a buy?
Currently, Wells Fargo stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean we expect a selloff for $WFC in coming sessions, or that it may not rise higher. Simply, it doesn't match our recommended trading systems
Should I sell Wells Fargo stock?
"To sell or not to sell", if you are holding Wells Fargo stock?. As when we have to buy shares, determining when is the best time to sell is not a random decision, and we must use our own trading strategy. We like very simple strategies to guide us on when is the best time to sell a stock. Be aware that these strategies should not be used for selling short Wells Fargo stock
As a golden rule, you must never mantain an open trade that yields losses greater than those expected at the time of the buy. The timing to sell shares must always be dictated by the stop-loss (automatic or manual)
Is it time to sell Wells Fargo stock?
Currently, Wells Fargo stock doesn't match any of our preferred sell setups, so if you hold Wells Fargo stock and your operation is in profit probably is not time to sell now
Wells Fargo ratings
In the last month, 6 ratings were published for Wells Fargo. General sentiment is bullish, with 4 out of 6 publishing optimistic forecasts
| Brokerage firm | Rating |
|---|---|
| Dec 21st, 2020 | |
| Piper Sandler | Neutral |
| Dec 29th, 2020 | |
| Raymond James | Buy |
| Jan 4th, 2021 | |
| Barclays | |
| Jan 6th, 2021 | |
| Deutsche Bank Aktiengesellschaft | |
| Jan 7th, 2021 | |
| Jefferies Financial Group | Neutral → |
| Jan 12th, 2021 | |
| UBS Group | Neutral → |
Wells Fargo stock analysis
Since last October, Wells Fargo has been printing an uptrend that so far marked a gorgeous 55.01%. The price line shows rising highs and lows, and along the way gave very few entry points for those who wanted to trade in. Latest pullback was in early December, when price bounced at $28.40. Like in all uptrends, price needs to take breath and now price is consolidating the gains in a range between $35.10 and $28.40
SMAs overview
Supports and resistances
The current resistances are:
The current support levels are:
Bollinger bands
Since the price surpassed the upper band last Thursday, the price has corrected downwards by 8.72%
Relative strength index
After crossing up the line of 70 yesterday, sliced back below with a value of 56.15. This is a weak signal for the Wells Fargo shares and it should tip us off of weakness in the stock price
Wells Fargo stock price history
Wells Fargo started trading priced at an adjusted price1 of $0.00 on Jun 1972. Since then, WFC stock surged by -, with an average of 0.00% per year. An investment of thousand dollars at that time would worth $inf nowadays.
1: Adjusted price after possible price splits or reverse-splits
Price target for Wells Fargo stock
How much a stock will be priced tomorrow or next week is quite unpredictable. However, many stock price predictions are issued every day by banks, financial institutions and independent analysts.
Along with buy or sell recommendations, financial institutions release their price forecasts based on the stock price action and the company fundamental data. Most of these estimates follow the release of new financial data by the company, and usually. Again, these predictions are not direct recommendations for small traders and should not be followed blindly.
The average price target for Wells Fargo stock calculated from the table below is $35.60. Wells Fargo closed at $32.04 last Friday, that is a 10.00% than the forecasted price.
| Brokerage firm | Price target |
|---|---|
| Dec 21st, 2020 | |
| Piper Sandler | $25.00 → $32.00 |
| Dec 29th, 2020 | |
| Raymond James | $32.00 → $35.00 |
| Jan 4th, 2021 | |
| Barclays | $33.00 → $36.00 |
| Jan 6th, 2021 | |
| Deutsche Bank Aktiengesellschaft | $35.00 → $37.00 |
| Jan 7th, 2021 | |
| Jefferies Financial Group | $26.00 → $38.00 |
| Jan 12th, 2021 | |
| UBS Group | Not available |
Earnings and financials
Last Friday, Wells Fargo ($WFC) hosted the investors event and released the report. Wells Fargo surpassed market estimates and presented of $0.64, that is a 6.67% improvement versus the initial predictions of $0.60. Despite this, reported revenues of $17.9 billion were in line with analysts estimates.
Compared to the same quarter last year, EPS was $0.60, so reported EPS is a improvement of 6.67%. Revenue inched down a -6.19% on an annualized basis in the , from $193.0B to $181.0B last quarter.Wells Fargo ($WFC) is releasing Q1 earnings report next April.
Wells Fargo performance
| Company | 1m | 3m | 6m |
|---|---|---|---|
| Wells Fargo ($WFC) | 8.10% | 39.90% | 30.70% |
Important:
The opinions given in this article are personal and should not be followed as recommendations for you to buy or sell shares. The author of this document does not know the individual conditions of the reader, his or her own finances or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Comments are posted for education motives onlyWells Fargo summary
| Friday, January 15th, 2021 | |
|---|---|
| Open | $33.08 |
| Close | $32.04 |
| Day range | $31.82 - $33.5 |
| Previous close | $34.75 |
| Session gain | -7.80% |
| Average true range | $1.29 |
| 50d mov avg | $28.45 |
| 100d mov avg | $26.02 |
| 200d mov avg | $26.06 |
| Earnings date | April 13th, 2021 |
Frequently asked questions
What is Wells Fargo stock symbol?
Is Wells Fargo stock a buy or sell?
Will WFC go up?
Latest Wells Fargo news
- InvestorPlaceWhy Wells Fargo Could Finally Rally in the Next YearNov 19, 2020