This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

5 Big Stocks to Trade for Gains

Wells Fargo

$182 billion banking firm Wells Fargo (WFC - Get Report) is another name that's showing traders a bullish setup right now, albeit a short-term one. Like Nike, Wells has been rallying over the last six months, climbing a full 40% over that time as cash started pouring into the oversold financial sector.

While that rally has taken a breather in the past week or two, an ascending triangle pattern in shares points to additional upside in April.

An ascending triangle pattern is a setup that's formed by a horizontal resistance level above a stock's price level and uptrending support below it. As shares bounce in between those two technically significant levels, WFC is getting squeezed closer and closer to a breakout above resistance - in this case at $34.50. A push above that level indicates that buyers have absorbed the glut of supply that's previously caused $34.50 to act like a price ceiling. It's a clear-cut signal to buy shares of WFC.

The declining volume that we've seen over the course of this setup is a good sign. When the trade does trigger, we'd ideally like to see volume increase as traders participate in the breakout. This WFC setup could move fast once it triggers -- you'll want to keep a close eye on it.

Wells Fargo shows up on a recent list of 5 Best Bank Stock Ides From JPMorgan and is one of 10 Top Warren Buffett Dividend Stocks.

3 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
BRCM $42.91 0.00%
CHRW $73.02 0.00%
DVN $59.15 0.00%
NKE $99.88 0.00%
WFC $54.12 0.00%


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs