PNP trade ideas
PNCChart used for my own historical reference. Any input is welcome.
$142 strike PUT
$144.5 point of entry
Flip Zone$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.
Buy PNC with stop at 119.93Market Profile Support held for PNC today. Expect bounce from Market profile support levels.
Aim for a risk reward of about 4.5 to 1
Short OpportunityAlright, 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.
Why $93 Is An Important Level In PNC Financial ServicesBack 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 look for a run to $100 and likely to a completion of the measured move to $104 ($93-$82=$11+$93=$104) in the longer-term.
Even though PNC is near all-time highs currently, shares only trade at a P/E ratio of 11.73x (2016 estimates) with 8.7% EPS growth, P/S ratio of 3.22x, and a P/B ratio of 1.20x. Revenue growth is likely to come back next year to the tune of 6% (north of $16B for the year).
Potential Options Trade Idea (if the stock closes above $93): Buy the Aug $92.50/$100 bull call spread for a $3.00 debit or better.
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PNC Day Trade Perfect Gap N Go (Brad Reed Jan16,2015)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
PNC - pullback into resistence. | ATR : 0.88
| Stock : PNC
| Days to Earnings : -45
Fundamentals | Approximately,EPS Due Date : 10/14/2014
IBD | EPS Rating : 64
IBD | SMR Rating : C
Whale wisdom .com | 13F shares % change: : 0.38%
Technicals | Horizontal S&R : 1
1=ok daily .6=ok 60m 0=no n/a=waiting | Channel S&R : 0
| MA S&R 20MA=.2 50MA=.5 200MA=1 : 1
| Pearsons R >87 : 0.91
Setups: T1=flag T2=double bottom | Price within Fib Ret..62 : 1
T1 Osc -1.38 | T2 Osc divergence : 1
T1 Fbar Stoch turn / crossover >= 80% | T2 Price @ MOB or Fib Ext >1.38<1.62 : 1
Stoch have not yet crossed 50 | T2 Stoch divergence / no Fbar : 1
strong=1 neutral=0 weak=-1 | Stock XLT : 0
strong=1 neutral=0 weak=-1 | Group Leaders / Industry XLT : 0
| Group Leaders / Industry : sivb + bac + sti
b=buy s=sell d=daily 60=hr | L / S / Strategy / Time Frame : s t1 d
| Symbol : PNC
| Trade Rating : 69%
| NOTES : May get in on the short on Monday. KBE and KBR also looking good for the short side.
