Wells Fargo engages in banking and a variety of related financial services businesses. Retail, commercial and corporate banking services are provided through banking stores in Alaska, Arizona, California, Colorado, Idaho, Illinois, Indiana, Iowa, Michigan, Minnesota, Montana, Nebraska, Nevada, New Mexico, North Dakota, Ohio, Oregon, South Dakota, Texas, Utah, Washington, Wisconsin and Wyoming. Other financial services are provided by subsidiaries engaged in various businesses, principally: 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. Source: Bigcharts

In the one-year weekly chart below I share with you my thoughts on where the stock has been and where I believe it is going. Wells Fargo stock is an attractive play that is currently on my radar. However, the MACD indicator has not yet given us the signal to buy. Be patient and wait just a little longer before jumping in. I will come back to this stock in about a week or so to determine if the situation has changed for the best…or worse.

Note: This stock will not be placed in the Jutia Portfolio until the MACD turns positive.