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Uptrend SupportArchive
- 11/24/2023 -
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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 -1.56 points, or -1.20%, and closed at 128.70 on Friday, November 24, 2023. Weekly volume was -59% 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 chart has formed a Falling Channel chart pattern. The downtrend resistance line (79.28) 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 long-term trend.
 Medium-term trend: [See PNC medium-term trend chart]
A medium-term downtrend had started on July 31, 2023 at 137.21 and reached 109.40 on October 25, 2023. PNC lost 27.81 points, or 20.27%, in 12 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (105.80) 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 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. 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 November 20, 2023 at 130.81 and reached 127.08 on November 22, 2023. PNC lost 3.73 points, or 2.85%, in 2 days. The price is now at the 43.43% retracement level.
 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. 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. 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.
The daily MACD line is above its signal line since November 1, 2023.
During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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.
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