Wells Fargo (WFC) stock is up more than 25% year-to-date, boosted by solid earnings and rising investor confidence in its strategic turnaround. The bank is benefiting from rising interest income, steady growth in consumer banking, and disciplined cost control. Despite the share price gain, technical indicators suggest that WFC stock is a Strong Buy, which implies further upside from current levels.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Analyzing WFC Stock’s Technical Indicators
According to TipRanks’ easy-to-understand technical analysis tool, Wells Fargo stock is currently on an upward trend. The 50-day Exponential Moving Average (EMA) is 83.33, while its price is $86.36, implying a bullish signal. Also, its shorter-duration EMA (20 days) signals an uptrend.
Moreover, the Rate of Change (ROC) is a momentum-based technical indicator. It measures the percentage change in a stock’s price between the current price and the price from a specific number of periods ago. Typically, an ROC above zero confirms an uptrend. WFC stock currently has an ROC of 3.3, which signals a Buy.
Another technical indicator, Williams %R, helps traders see if a stock is overbought or oversold. For Wells Fargo, Williams %R currently shows a Buy signal, suggesting the stock is not overbought and has room to run.
What Is the Price Target for WFC Stock?
Turning to Wall Street, WFC stock has a Moderate Buy consensus rating based on 11 Buys and five Holds assigned in the last three months. At $94.23, the average Wells Fargo stock price target implies an upside potential of 9.06%.
