On Monday, Wells Fargo received a positive adjustment to its Relative Strength (RS) Rating, from 70 to 73.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary rating tracks market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the trailing 52 weeks compares to all the other stocks in our database.
History shows that the market's biggest winners tend to have an 80 or higher RS Rating in the early stages of their moves. See if Wells Fargo can continue to rebound and clear that threshold.
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While now is not an ideal time to invest, see if the stock goes on to offer and clear a proper buy point, now that it has cleared key moving averages.
Earnings grew 41% last quarter, up from -23% in the prior report. Revenue also increased, from -13% to 11%.
Wells Fargo holds the No. 10 rank among its peers in the Banks-Money Centers industry group. Goldman Sachs and Deutsche Bank are also among the group's highest-rated stocks.
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