PNC belongs to the XLF (financials) which have been gaining quite a bit of momentum as of late The XLF is now out performing the SPY, using our Bull v Bear ratio seen here. PNC has a very bullish Chaikin Power Gauge Rating, belongs to a strong industry group and possesses strong technicals. The chart tells a great story. Price action is above a rising Chaikin along Term Trend-line, price recently re tested and bounced and the overbought / oversold oscillator has just entered oversold territory. It's also worth mentioning that estimate revisions are very positive.
Again, we entered this trade a bullish trend trade. We position sized for our account and set a stop 3% below support, which makes our stop order approx. $77.66
See all of our current and past trades here.
Happy Trading. Mike & AA