Nov. 21 at 2:20 AM
$PNC: The last close at
$183.64 indicates a position above the 30-day moving average (MA30) of
$183.18, suggesting a bullish sentiment. The RSI at 52.75 indicates neutral momentum, allowing for potential upward movement. However, the 50-day moving average (MA50) at
$190.03 presents resistance, indicating that the stock may struggle to move higher without strong buying pressure.
Given the 60-day high of
$208.8 and low of
$176.88, the current price is closer to the lower end of this range, providing a favorable risk-reward scenario for a long position.
Suggested entry:
$184.00, with a stop loss at
$180.00 to manage risk. Targets could be set at
$190.00 (first target, near MA50) and
$205.00 (second target, closer to the 60D high).
Overall, the trade plan reflects a cautious bullish bias, leveraging current price action against established technical indicators.
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