PNC Financial Looks Vulnerable to a Decline

PNC Financial Services Group  (PNC) made a big rally into February from last June, but a weakening picture of volume and momentum tells me it is time to take profits on PNC as it looks vulnerable to a decline.

In this daily bar chart of PNC, below, we can see the rally from the June low to the early 2017 high. The volume of trading peaked in November and declined every month since. The rising 50-day moving average line has tracked the rally nicely and was tested on a short dip in January. As prices have weakened this month they are getting into position for another test of the moving average line. The slope of the 200-day moving average line is positive but may be too far below the price action. ...124 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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