PNC Financial Services Group Inc (The) Stock Forecast
Evaluation of PNC Financial Services Group Inc (The) stock downgraded after the last trading session.
(Updated on May 16, 2024)
The PNC Financial Services Group Inc (The) stock price fell by -0.279% on the last day (Thursday, 16th May 2024) from $161.34 to $160.89. During the last trading day the stock fluctuated 0.90% from a day low at $160.04 to a day high of $161.49. The price has risen in 7 of the last 10 days and is up by 3.35% over the past 2 weeks. Volume has increased on the last day by 258 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $244.69 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.58% during the next 3 months and, with a 90% probability hold a price between $160.16 and $178.38 at the end of this 3-month period.
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PNC Signals & Forecast
The PNC Financial Services Group Inc (The) stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $158.80 and $155.98. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -0.279%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Wednesday, May 15, 2024 and based on theory for this formation the price should fall by -12.94% to $140.07 within 33 trading days since signal was issued (Friday, May 17, 2024).
Support, Risk & Stop-loss for PNC Financial Services Group Inc (The) stock
PNC Financial Services Group Inc (The) finds support from accumulated volume at $153.74 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.44 between high and low, or 0.90%. For the last week the stock has had daily average volatility of 0.88%.
Our recommended stop-loss: $156.54 (-2.71%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (PNC) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect PNC Financial Services Group Inc (The) to open at $160.81, and during the day (based on 14 day Average True Range), to move between $158.29 and $163.49, which gives a possible trading interval of +/-$2.60 (+/-1.62%) up or down from last closing price. If PNC Financial Services Group Inc (The) takes out the full calculated possible swing range there will be an estimated 3.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $160.96 (0.04%) than the support at $153.74 (4.44%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is PNC Financial Services Group Inc (The) stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for PNC Financial Services Group Inc (The) stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 1.595 Buy Candidate Downgraded
Predicted Opening Price for PNC Financial Services Group Inc (The) of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $160.81 ( 0.0526%) | $160.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PNC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 162.25 | 0.84 % | |
| R2 | 161.70 | 0.502 % | ||
| R1 | 161.36 | 0.290 % | ||
| Current price: | 160.89 | |||
| Support | S1 | 160.25 | -0.395 % | |
| S2 | 159.91 | -0.607 % | ||
| S3 | 159.36 | -0.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 161.60 | 0.441 % | |
| R2 | 161.34 | 0.280 % | ||
| R1 | 160.96 | 0.0435 % | ||
| Current price | 160.89 | |||
| Support | S1 | 153.74 | -4.44% | |
| S2 | 150.38 | -6.53% | ||
| S3 | 146.54 | -8.92% |
PNC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 03, 2024 | Apr 12, 2024 | May 05, 2024 | $1.55 | 0.99% |
| 2 | Jan 12, 2024 | Jan 12, 2024 | Feb 05, 2024 | $1.55 | 1.06% |
| 3 | Oct 02, 2023 | Oct 16, 2023 | Nov 05, 2023 | $1.55 | 1.26% |
| 4 | Jul 03, 2023 | Jul 17, 2023 | Aug 05, 2023 | $1.55 | 1.18% |
| 5 | Jul 03, 2023 | Jul 14, 2023 | Aug 05, 2023 | $1.55 | 1.18% |
FAQ
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