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

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

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#cash #bullish #buy

$WFC

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!

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Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.