Wells Fargo special report based On 1.00 Lot Calculation:
GLOBAL BANKING SECTOR:
- MARKET SIZE: The global financial sector grew from $23,391.52 billion in 2021 to $25,588.30 billion in 2022, a compounded annual growth rate of 9.7%.
- MARKET SHARE BY COUNTRY: The United States has the largest and most liquid financial markets in the world. U.S. revenue was about $4.85 trillion in 2021, and accounted for over 7% of American GDP.
- MARKET SHARE BY COMPANY AND BY SALES: Wells Fargo revenue the last 12 months was over $75 billion and was 3.38% of the global market at the end of the 3rd Quarter of 2022, making them the third largest financial institution in the United States.
Wells Fargo (ANALYSIS AND EVENTS)
- THE COMPANY: Wells Fargo is a global financial services company. It offers commercial and retail banking, investment banking, consumer finance products, and wealth management services in the United States and around the globe.
- PERFORMANCE AROUND EARNINGS: Wells Fargo has been the strongest performing stock of the major financial institutions the last 8 quarters. It rose 2.20% around its last quarterly report.
- EVENT (Wells Fargo Earnings- January 13th, 2023. PREMARKET): Wells Fargo is expected to post its quarterly financials on January 13th. Their earnings have exceeded the the analyst’s consensus forecasts 7 of the last 8 quarters. The current quarterly estimates are earnings of 97 cents per share and revenue of $19.958 billion.
- TECHNICAL ANALYSIS: Wells Fargo’s weekly Stochastic and Relative Strength Indicators show that its stock is in an oversold condition and may be well positioned for a reversal at these levels.
- ANALYST OPINION: The consensus 12-month target is $53.27, according to Bloomberg. Deutsche Bank set a price target of $50 on January 6th, 2023, Barclays set a price target of $64 on January 3rd, 2023, and Morgan Stanley forecast $58, all on December 21st, 2022.
- UPSIDE POTENTIAL: Wells Fargo’s current price would need to rise over 55% to reach its 5-year high ($65.93: January 2018).
(#WELLSFARGO), January 9, 2023
Current Price: 42.50
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Current Price: |
42.50 |
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Wells Fargo |
Weekly |
|
Trend direction |
|
|
50.00 |
|
|
47.50 |
|
|
45.00 |
|
|
40.50 |
|
|
38.50 |
|
|
36.50 |
Example of calculation base on weekly trend direction for 1.00 Lot1
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Wells Fargo |
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Pivot Points |
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Profit or loss in $ |
37,500.00 |
25,000.00 |
12,500.00 |
-10,000.00 |
-20,000.00 |
-30,000.00 |
|
Profit or loss in €2 |
35,132.10 |
23,421.40 |
11,710.70 |
-9,368.56 |
-18,737.12 |
-28,105.68 |
|
Profit or loss in £2 |
30,889.62 |
20,593.08 |
10,296.54 |
-8,237.23 |
-16,474.46 |
-24,711.70 |
|
Profit or loss in C$2 |
50,306.25 |
33,537.50 |
16,768.75 |
-13,415.00 |
-26,830.00 |
-40,245.00 |
- 1.00 lot is equivalent of 5000 units
- Calculations for exchange rate used as of 07:59 (GMT) 09/01/2023
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account ManagerClient Manager regarding their use.
- You may wish to consider closing your position in profit, even if it is lower than suggested one.
- Trailing stop technique can protect the profit – Ask your Senior Account ManagerClient Manager for more details.