supratimbarman

PCG LONG -- InvH&S and Upward GapFilling

Long
NYSE:PCG   PG&E CORP
PCG is an overlooked stock which suffered serious reputational damage during the Northern California Fires, (for which they were blamed).

However the stock seems to have recovered and has quietly filled the gaping wounds from 6.15 to about 17.35; which is where it is at now. (I have marked the two major gaps with Blue Arrows).

It is also demonstrating a Classic Inverted Head and Shoulder Pattern and I would not be surprised if PCG were to close the gap between 20.20 and approximately 24, (which I have marked with an UpArrow).

It is currently facing Severe Resistance as it tries to move up.

The Stock is also relatively cheap.

There is a matter to keep in consideration in that the State of California is looking to nationalise this company, whereupon the stock would probably become worthless.

My people from South London, metaphorically speaking; all of whom I miss terribly. London Rules.

https://www.youtube.com/watch?v=NdJHvUTW...

Comment: This idea was enhanced after conversations with Fellow TradingView Member @jamesharoldhanson who spotted that it could be the rock bottom for this stock and that it is currently facing resistance.

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