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Downtrend ResistanceArchive
- 4/5/2024 -
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PNC Bank Corp. (PNC) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the PNC Bank Corp. (PNC). During the week, the PNC dropped -4.23 points, or -2.62%, and closed at 157.37 on Friday, April 5, 2024. It was the worst weekly loss since January 12, 2024. Weekly volume was -38% 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. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance 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 162.24 on March 28, 2024. PNC gained -52.84 points, or -48.30%, in 22 weeks. The price is now at the 9.22% retracement level.
 Weekly Technical Indicators: [See PNC weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 Williams' Percentage Range help.
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, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. 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 March 18, 2024 at 146.98 and reached 162.24 on March 28, 2024. PNC gained -15.26 points, or -10.38%, in 10 days. The chart has formed a Rising Wedge chart pattern. The uptrend support line (166.51) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a short-term trend.
 Daily Technical Indicators: [See PNC daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since March 19, 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 fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.
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