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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish 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 $99.19 and $100.98 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. Traders and investors interested in shares of Pnc Financial Se may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, Pnc Financial Se share prices have been bracketed by a low of $79.41 and a high of $161.79 and closed yesterday at $99.43, 25% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.7% while the 200-day MA has slid 0.6%.

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 62.2% exists for Pnc Financial Se, based on a current level of $99.43 and analysts' average consensus price target of $161.26. The stock should run into initial resistance at its 50-day moving average (MA) of $111.08 and subsequent resistance at its 200-day MA of $136.57.

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: bullish am inside day candle pnc financial se

Ticker(s): PNC