- 8/9/2019 -
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PNC Bank Corp. (PNC)
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|It was the negative week for the PNC Bank Corp. (PNC). During the week, the PNC dropped -5.62 points, or -4.07%, and closed at 132.34 on Friday, August 9, 2019. It was the worst weekly loss since March 22, 2019. Weekly volume was 10% above average. |
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 price is now at the 43.33% retracement level.
Medium-term trend: [See PNC medium-term trend chart]
A medium-term uptrend had started on December 26, 2018 at 108.45 and reached 144.32 on July 29, 2019. PNC gained -35.87 points, or -33.08%, in 30 weeks. The price is now at the 33.40% retracement level.
Weekly Technical Indicators: [See PNC weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. 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 link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since February 1, 2019. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 July 29, 2019 at 144.32 and reached 128.12 on August 7, 2019. PNC lost 16.20 points, or 11.23%, in 9 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See PNC daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since July 31, 2019. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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.