The Greedy Trader Weekly Analysis
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Archive
- 6/7/2019
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PNC Bank Corp.
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Summary:
Weekly :Overbought sectorTrend resistance at 135.26
Daily :Williams' Percentage Range and Lane's Stochastic are overbought20 Day Moving Average has crossed below the 50 Day Moving AverageDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARBroken trend resistance lineThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the PNC Bank Corp. (PNC). During the week, the PNC gained 5.62 points, or 4.42%, and closed at 132.88 on Friday, June 7, 2019. It was the best weekly gain since January 4, 2019. Weekly volume was -34% below average.

PNC is a member of Financial Sector. Financial is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See PNC long-term trend chart]
A long-term downtrend had started on February 27, 2018 at 163.59 and reached 108.45 on December 26, 2018. PNC lost 55.14 points, or 33.71%, in 43 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (135.26). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See PNC medium-term trend chart]
A medium-term uptrend had started on December 26, 2018 at 108.45 and reached 138.08 on April 29, 2019. PNC gained -29.63 points, or -27.32%, in 17 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 128.13 and resistance is at 142.18. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See PNC weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since February 1, 2019. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See PNC short-term trend chart]
A short-term downtrend had started on April 29, 2019 at 138.08 and reached 126.34 on May 31, 2019. PNC lost 11.74 points, or 8.50%, in 32 days. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (125.77) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. PNC may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.

Daily Technical Indicators: [See PNC daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.71
Williams' Percentage Range (W%R) 14.90
Overbought
Lane's Stochastic (%D-Slow) 81.89
Overbought
Greed/Fear Indicator (GFI) 74.56
Moving Average Converg./Diverg. (MACD) -0.11
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.16
Williams' Percentage Range (W%R) 22.60
Lane's Stochastic (%D-Slow) 63.04
Greed/Fear Indicator (GFI) 64.28
Moving Average Converg./Diverg. (MACD) -0.44
Trading Signals
Description Value Chart
Monthly Trendline Resistance 142.18
Upper Bollinger Band 135.37
Quarterly Trendline Resistance 135.26
Daily Stochastic Crossing 133.88
Weekly Stochastic Crossing 133.27
Price 132.88
50 Day Moving Average 131.24
20 Day Moving Average 130.84
Monthly Trendline Support 128.13
Weekly Trendline Resistance 128.12
Lower Bollinger Band 127.67
Parabolic System 127.48
Weekly Trendline Support 125.77
Sector and Industry
Description Name Rank
Sector Financial 9
Industry Money Center Banks 80
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 126.34
Low Date 05/31/2019
High 134.58
High Date 06/06/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 128.12
Support 125.77
High 138.08
High Date 04/29/2019
Low 126.34
Low Date 05/31/2019
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 142.18
Support 128.13
Low 108.45
Low Date 12/26/2018
High 138.08
High Date 04/29/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Test Resistance
Resistance 135.26
Support 85.13
High 163.59
High Date 02/27/2018
Low 108.45
Low Date 12/26/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 16.20
Low Date 03/06/2009
High 163.59
High Date 02/27/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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