Wells Fargo & Company WFC - $20 Price Target

October 8, 2009 - UBS has come out and slapped $20 Price Target on shares on Wells Fargo & Company (WFC) today as the firm initiated coverage. This is rather strange and to be honest, I'm not buying the call.

With the stock trading near $30, it would take a HUGE shoe to drop in order for this call to come true. The stock has bullet-proof support at the $24 level which has held numerous times when the Dow Jones was under 9000.

Wells Fargo & Company (WFC) is set to report earnings Oct 21, 2009.


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Wells Fargo WFC April 13, 2009 4/13/09

The following is stock analysis of Wells Fargo ( WFC ) for 4/13/09

Wells Fargo Support and Resistance Levels - April 13, 2009

Resistance: $19.60, $21.06, $22.50

Support: $17.50, $16

http://stockcharts.com/ - Chart

Wells Fargo WFC Stock exploded higher on earnings news out during pre market on Thursday. The previous resistance level of $17.50 was gapped over. The technicals are almost perfect here, we saw a huge gap near $20, a sell-off during the morning, testing $17.50, and then a rebound back toward the highs. $17.50 from here on out becomes a critical support level. A close below $17.50 and I would be a seller of WFC. On the upside, I don't see any major resistance until $21.06 and then $22.50. I am also monitoring the 200 day moving average at $24.57. Pullbacks should be bought! Jim Cramer was on CNBC during the afternoon of 4/9/09 and said WFC could eventually trade to $26 based on future earnings. For More Technical Analysis - Go Here

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Biggest Stock Gainers 4/9/09 April 9, 2009

Today, April 9, 2009, there are several stock gainers that are breaking out with some nice momentum. If you are looking to day trade today, you might want to check out the following stocks. Check out today's biggest gainers and the Top Stocks for 2009.You can find yesterday's Top Gainers Report Right Here

Hot Stocks 4/9/09 - Biggest Gainers Today

Textron Inc. (TXT) - $13.45 Up 47.64% - Mideast group reportedly eyes Textron buyout at $21 a share Stock surges on latest takeover speculation

Bank of America ( BAC ) - $9.03 Up 28.05% - Bank of America Begins Mortgage Refinancing under U.S. Treasury's 'Making Home Affordable' Plan

Capital One Financial Corp. (COF) - $17.13 Up 24.04% - No News

Wells Fargo ( WFC ) - $18.58 Up 24.78% - Wells Fargo projects record $3 billion 1Q profit

Financial Bull 3x ( FAS ) - $7.94 Up 28.27% - FAS continues the strong uptrend and broke through previous high of $7.80....this is now support and where i'd be putting my stop...I will have analysis tomorrow.

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Bank Stocks 4/9/09 April 9, 2009 WFC

The financials are soaring this morning as Well Fargo ( WFC ) came out earlier and said they will earn $0.55 for the 1st quarter. This is a huge beat and is taking the whole stock market up. I had a hunch WFC would report a good number but not this good! As you can see, it is surprising Wall Street!

Bank Stock Update - 4/9/09 - Pre Market Trading

Wells Fargo ( WFC ) - $20.00 Up 34.32% - Wells Fargo projects record $3 billion 1Q profit - When this news broke, WFC stock jumped to $17 immediately. Since the spike, WFC has been steadily climbing.

Financial Bull ( FAS ) - $7.61 Up 22.94%
Financial Bear ( FAZ ) - $13.68 Down 23.32%
Citigroup ( C ) - $3.07 Up 13.70%
Bank of America ( BAC ) - $8.42 Up 19.26%
JP Morgan ( JPM ) - $31.29 Up 14.07%
General Electric ( GE ) - $11.16 Up 4.89%

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Mike Mayo: Banks - April 6, 2009 4/6/09

Mike Mayo, a very popular financial analyst who left Deutsche Bank for Calyon Securities, is out with an underweight or sell rating on the following banks. Mike Mayo says that loan losses will exceed levels from the Great Depression.

Mike Mayo Bank List - 4/6/09

Sell Rating:

BB&T Corporation ( BBT )
Fifth Third Bancorp ( FITB )
KeyCorp ( KEY )
SunTrust Banks, Inc. ( STI )
U.S. Bancorp ( USB )

Underperform Rating:

Bank of America Corporation ( BAC )
Comerica Incorporated ( CMA )
JPMorgan Chase & Co ( JPM )
Citigroup Inc. ( C )
Wells Fargo & Company ( WFC )
PNC Financial Services ( PNC )

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Bank Stocks 4/2/09 April 2, 2009 - FAS

Bank stocks are rallying today after Asian Markets were very strong on hopes there will be a suspension of some of the mark to market accounting rules. The financials below are going to open VERY strong.

Bank Stock Update - 4/2/09 - Pre Market Trading


HSBC ( HBC ) - $33.30 Up 12.84% - HSBC shares surge along with Asian stocks.

American International Group ( AIG ) - $1.18 Up 10.28% - Ex AIG CEO Hank Greenberg set to testify before congress today. AIG problems not his fault, says Greenberg - WSJ. AIG is gapping over both moving averages this morning, very bullish, lets see if AIG stock is strong enough to close over these two levels $1.20, $0.90.

Financial Bull 3x ( FAS ) - $6.72 Up 13.13% -FAS is gapping up huge, watch $6.62 which is the 50 day moving averages.

Citigroup ( C ) - $2.94 Up 9.70% - Citigroup is spiking toward $3, a close over $3 would be huge!

Bank of America ( BAC ) - $7.76 Up 10.07% - CEO Ken Lewis was on CNBC this morning making some positive comments on his company.

Fannie Mae ( FNM ) - $0.75 Up 10.37%

Wells Fargo ( WFC ) - $15.45 Up 6.70%

General Electric ( GE ) - $10.60 Up 4.23% - GE back above $10.50, watch $11 today

Financial Bear 3x ( FAZ ) - $17.19 Down 11.80%

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Bank Stocks 3/31/09 March 31, 2009 - FAS

The bank stocks are getting a bounce this morning after getting crushed yesterday. Most of these are trading below both 10 & 50 day moving averages so be careful. On sell-off days they will get hit the hardest as long as the above statement is true. I plan on trading Financial Bull ( FAS ) today since I think it is oversold.

Bank Stock Update - 3/31/09 - Pre Market Trading

Bank of America ( BAC ) - $6.31 Up 4.64%

Citigroup ( C ) - $2.48 Up 7.36%

Financial Bull ( FAS ) - $5.21 Up 7.42%

American International Group ( AIG ) - $1.03 Up 8.42%

Wells Fargo ( WFC ) - $14.05 Up 5.09%

General Electric ( GE ) - $10.14 Up 2.11%

JP Morgan ( JPM ) - $25.43 Up 2.33%

Financial Bear ( FAZ ) - $22.78 Down 7.55%

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Bank Stocks 3/25/09 March 25, 2009 - JPM

JP Morgan ( JPM ) is out this morning cutting their earnings forecast for the S&P 500 from $80 to $76. If you put a 14 multiple on this, you would be looking at 1064 for the S&P in 2010. Below are the most active bank stocks this morning.

Bank Stock Update - 3/25/09

Financial Bull ( FAS ) - $6.45 Up 5.39%

Citigroup ( C ) - $3.12 Up 3.65%

Bank of America ( BAC ) - $7.55 Up 4.57% - They want to pay TARP back by next month

American International Group ( AIG ) - $1.49 Up 7.19%

Wells Fargo ( WFC ) - $16.22 Up 4.65%

General Electric ( GE ) - $10.67 Up 2.35%

HSBC ( HBC ) - $27.93 Down 2.34%

Financial Bear 3x ( FAZ ) - $20.31 Down 3.90%

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Wells Fargo WFC Stock 3/23/09 March 23 2009

The following is a Wells Fargo ( WFC ) stock technical analysis for March 23, 2009.

Wells Fargo Support & Resistance Levels - 3/23/09

Resistance Levels: $15.47, $16.25, $17.60

Support Levels: $13.65, $12.70, $10.50

http://stockcharts.com

Wells Fargo stock is right in the middle of two major moving averages that I follow, the 10 and 50 day moving averages. After topping out at $17.60, WFC stock has failed to close over the 50 day moving average for the second straight day. I will continue to watch the 10 day moving average because if WFC can continue to close above this level ( currently at $13.65 ), it will be a bullish signal for things to come. As soon as you have a stock close below both of these two averages, you start to have problems and the downside risk is significant. On the upside, there will be some resistance at $15.47 ( Friday's High ), $16.25, and Thursday's High of 17.60. A close above $17.60 and it is likely $20 will be retested. For More Technical Analysis - Go Here

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