PNC may be rebounding a bit for a pullback to 135
Put spread 140/135 Price was $1.92, Spread 5 points.
Max loss will be twice the profit.
$1.54 will be max profit for a total of $3.46 in the spread.
Max loss is 75% of total price of spread. Which may be taken at 75% of duration of option if the play is wrong so October 14-20. If the play turns out to be...
PNC is looking more and more bullish
130/135 Call Spread
EXP is Oct 18
Max Loss is $150 max gain is $163 profit
Reason for trade is RSI divergence into bull trend, Spy Uptrend.
PNC may move lower putting on a spread 125/120 Exp Oct 18
$1.89 cost of spread
Max loss is $122
Max gain is $157.25-212.75
This spread may be too long of a duration if I hit target sooner I may take the lower range of my profit target.
Lets see how it pans out
On the weekly chart there is mixed signal from the indicators, they Momentum an Stock are showing some weakness but the RSI and MACD are still positive. Volume must be higher to maintain the rally of the lows which seems to be struggle as the market is down for 5 consecutive weeks. The pivotal point is $138 if that holds as resistance selling could intensify...
$PNC bounced back from the demand area at ~133 and close yesterday with a strong green outside bar. if it manages to get through the flip zone (As they call it in James16 group) I'll go long on it.
Alright, what we have here is a classic long candle and doji pattern inside a bear flag. This pattern indicates that buying power is diminished and a gap down tomorrow could signal a shorting opportunity with stop loss above the flag.
Back in December, PNC shares tried on several occasions to make a move above the $93 level, but inevitably ended correcting to $82. Now PNC has once again made another rally, now trading just below the key resistance level. This is not the time to be buying the stock, but is the time to be waiting for a close above $93 to make a bullish trade. If it does happen...
PNC expected to open at 91.25 for a Perfect Gap N Go. A lot of people trapped but huge jumps can be unpredictable. To learn to trade this strategy for free go to www.RealLifeTrading.com
The PNC Financial Services Group, Inc. is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. Retail Banking provides deposit, lending, brokerage, investment management and cash management products and services. Corporate & Institutional Banking provides lending, treasury management and capital markets-related products and services. Asset Management Group includes personal wealth management for high net worth and ultra-high net worth clients and institutional asset management. BlackRock, in which the Company holds an equity investment, is a publicly traded investment management firm providing investment and risk management services to institutional and retail clients across the world.
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PNC
