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

By James Quinn

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 $131.06 and $131.57 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.

In the past 52 weeks, Pnc Financial Se share prices have been bracketed by a low of $108.45 and a high of $152.98 and are now at $131.57, 21% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.4%.

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.

There is potential upside of 22.6% for shares of Pnc Financial Se based on a current price of $131.57 and an average consensus analyst price target of $161.26. The stock should discover initial support at its 200-day moving average (MA) of $131.18 and subsequent support at its 50-day MA of $125.39.

SmarTrend is tracking the current trend status for Pnc Financial Se and will alert subscribers who have PNC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle pnc financial se

Ticker(s): PNC