The financial services company is based in San Francisco.
(Wells Fargo is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holding with a free trial here.)
The best performing financial name has by far been Wells Fargo, and its technical picture doesn't disappoint either.
The chart shows a defined uptrend channel with higher highs and higher lows, and a solid 10% move up off the February bottom.
The moving average convergence divergence (MACD) is on a new buy signal and the recent high volume from the lower end of the channel shows robust institutional buying has occurred.
Recently, the stock has battled with the 200-day moving average and may have succeeded.
On the downside, the recent run higher (last week) was on weaker turnover, so perhaps a rest may be due.
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Separately, TheStreet Ratings Team has a "Buy" rating with a score of A- on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, expanding profit margins and attractive valuation levels.
The team believes its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: WFC