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Possible Bearish Inside Day Candle Pattern Detected for Pnc Financial Se (NYSE:PNC)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Pnc Financial Se (NYSE:PNC) based on the price action in the company's shares. Today's price range of $129.08 and $129.41 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Pnc Financial Se may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

PNC Financial Services Group, Inc. is a diversified financial services organization. The Company provides regional banking, wholesale banking, and asset management services nationally and in the Company's primary regional markets.

Potential upside of 24.9% exists for Pnc Financial Se, based on a current level of $129.08 and analysts' average consensus price target of $161.26. Pnc Financial Se shares should encounter resistance at the 200-day moving average (MA) of $133.04 and support at the 50-day MA of $123.74.

Over the past year, Pnc Financial Se has traded in a range of $108.45 to $163.00 and is now at $129.08, 19% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.8%.

SmarTrend recommended that subscribers consider buying shares of Pnc Financial Se on January 3rd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $118.65. Since that recommendation, shares of Pnc Financial Se have risen 9.2%. We continue to monitor PNC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle pnc financial se

Ticker(s): PNC