Is Wells Fargo Poised to Head Higher?
T = Trends for a Stock’s Movement
Wells Fargo is a diversified financial services company. It has three operating segments: Community Banking; Wholesale Banking; and Wealth, Brokerage, and Retirement. The company provides retail, commercial, and corporate banking services through banking stores and offices, the Internet, and other distribution channels to individuals, businesses, and institutions around the world. Wells Fargo also provides wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, insurance agency and brokerage services, computer and data processing services, trust services, investment advisory services, mortgage-backed securities servicing, and venture capital investment.
Wells Fargo Advisors’ Scott Wren says that while there will be volatility in the markets over the next several months he expects the markets to end 2014 roughly 7 percent higher than where they are today. Wren says volatility would be welcome because there was little pullback in the last nine months as markets moved higher.