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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. Yesterday's price range of $130.90 and $131.90 is within the prior day'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.

Pnc Financial Se has overhead space with shares priced $131.06, or 18.7% below the average consensus analyst price target of $161.26. The stock should hit resistance at its 200-day moving average (MA) of $131.16, as well as support at its 50-day MA of $125.56.

In the past 52 weeks, shares of Pnc Financial Se have traded between a low of $108.45 and a high of $152.98 and closed yesterday at $131.06, which is 21% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

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 am inside day candle pnc financial se

Ticker(s): PNC