BUY! WELLS FARGO & CO (WFC) NYSE

  Report No. 1851    Analysis by: Harry Aloof     SEPTEMBER 29, 2003

WELLS FARGO & CO (WFC-NYSE): Technical Viewpoint: From a low of $48.90 on Aug 25, 2003 prices rallied, reaching a high of $51.50 on Sep 3, 2003. A decline saw prices pull back, reaching a low of $49.69 on Sep 12, 2003. Another rally saw prices penetrate resistance, closing 9/26/03 at $51.40. Technicals: MACD-Histogram (MACD-H): A Buy Alert! was given on Sep 18, 2003 when the Histogram crossed the "0" line to the upside. Support: Remains at $50.43. Resistance: Is at $51.73. Point & Figure: Reversed to the upside on Sep 18, 2003. A P&F upside reversal takes place at $51.50. Summary: Technical indicators have turned bullish. BUY! WELLS FARGO & CO (WFC-NYSE) @ $51.63 Stop: Use a protective stop of $49.13. WELLS FARGO & CO is currently trading @ $51.40 plus $0.44 on Sep 26, 2003. Price Objective: $65.00. Risk/Reward: $2.50 VS. $13.38. Today's Risk Reward Ratio: 5:1

Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study

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Price Objective:
$65.00 Risk/Reward:
$2.50 VS. $13.38 Risk/Reward Ratio:
5:1
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