|
Downtrend Broken Resist.Archive - 3/15/2024 - Sign In to see current Signals. |
PNC Bank Corp. (PNC) Technical Analysis
|
|
| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the PNC Bank Corp. (PNC). During the week, the PNC dropped -1.55 points, or -1.03%, and closed at 148.78 on Friday, March 15, 2024. Weekly volume was -33% below average. PNC is a member of Financials Sector. Financials 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 January 13, 2022 at 228.14 and reached 109.40 on October 25, 2023. PNC lost 118.74 points, or 52.05%, in 92 weeks. The price is now at the 33.16% retracement level. Medium-term trend: [See PNC medium-term trend chart] A medium-term uptrend had started on October 25, 2023 at 109.40 and reached 157.69 on January 8, 2024. PNC gained -48.29 points, or -44.14%, in 10 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 137.14 and resistance is at 156.71. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge 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 November 3, 2023. 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 uptrend had started on February 21, 2024 at 139.69 and reached 157.31 on March 5, 2024. PNC gained -17.62 points, or -12.61%, in 13 days. The price is now at the 48.41% retracement level. Daily Technical Indicators: [See PNC daily technical indicators chart] Daily technical indicators are neutral. The daily MACD line is above its signal line since February 29, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak. During the last week, the price has declined below 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 price 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. Candlestick pattern: [See PNC candlestick chart pattern] On Friday the chart has formed a Bullish Meeting Lines Candlestick pattern. This pattern appears during a decline, and it is a sign that a potential bullish reversal is in play. The reliability of the Bullish Meeting Lines Candlestick pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bullish Meeting Lines Candlestick pattern during the last week.
| |
|
|