Sitting on a Cash Pile 14.0? This Looks Like a Valuation Call

#cash #bullish #buy


Wells Fargo & Co. (NYSE:WFC) broke out on 16 November at 24.90 and confirmed on 19 May at 46.17. Thus triggering an LTN Cash Pile Buy signal with a 1yr target price of 77/share.

The Street’s consensus target is at 48,28, and the last trade on Wednesday hit the tape at 46.17. WFC is trading just below the 52-wk high (20.76 – 48.13) after a solid run, this looks like a valuation call.

The Key support is at 39.28, and the Key resistance is at 46.58, and 4 of our 4 Key technical indicators are flashing Very Bullish long term.

Wells Fargo & Company is a leading US financial services company that has approximately $1.9-T in assets and serves 1 in 3 households and more than 10% of all middle market companies in the US.

The bank provided a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our 4 reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.

Wells Fargo ranked #30 on Fortune’s 2020 rankings of America’s largest corporations. In the communities it serves, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health and a low-carbon economy. WFC is HQ’d in San Francisco, California

Have a healthy day, Keep the Faith!