The market has been high on Wells Fargo & Co (WFC) stock recently. WFC gets a Bullish score from InvestorsObserver’s Stock Sentiment Indicator.
What is Stock Sentiment?
Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends.
Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.
InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.
The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.
What’s Happening With WFC Stock Today?
Wells Fargo & Co (WFC) stock has fallen -0.17% while the S&P 500 is up 1.04% as of 2:58 PM on Thursday, Apr 15. WFC is lower by -$0.07 from the previous closing price of $42.02 on volume of 27,755,466 shares. Over the past year the S&P 500 has gained 46.43% while WFC is up 39.00%. WFC earned $1.43 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 29.21.
More About Wells Fargo & Co
Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company is split into four primary segments: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management.