Posted: Monday, January 26, 2009 10:09 AM ET
Wells Fargo (WFC) was covered in a Vic Wisemann Report today and the stock is now at $16.11, up $0.24 (1.51%) on volume of 7,905,578 shares traded. To see the report, and read Vic's take on the beleaguered banking sector, go to http://www.iotogo.com/vw012609 . Over the last 52 weeks the stock has ranged from a low of $13.74 to a high of $44.75. Wells Fargo stock has been showing support around $14.10 and resistance in the $17.04 range. Technical indicators for the stock are neutral and S&P gives WFC a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on WFC the stock seems like it could be a candidate for a February out-of-the-money bull-put credit spread below the 14 range. [ABR-Seven Summits Strategic Investments NewsBite]
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