PNC Financial Services Group, Inc. is an American bank holding company and financial services corporation based in Pittsburgh, Pennsylvania. Its banking subsidiary, PNC Bank, operates in 21 states and the District of Columbia with 2,459 branches and 9,051 ATMs.
As explained in Set and Forget’s trading community updates, we expect a strong rally from $104 per share. Price action can tell us a lot of things. It tells us that bullish impulses are stronger than bearish impulses. If we know how to read price action and use it in our technical analysis and stock trading strategy, it will help you find turning points on any price chart and timeframe.
Take a look at PNC Financial Services’ weekly timeframe below. You can use this longer-term analysis to plan trades if you are a stocks intraday trader or a swing trader. There are multiple stock trading strategies, supply and demand and price action will help you locate turning points in the market with laser-beam accuracy.
This is the kind of price action technical analysis you will learn in our trading community. You will learn how to locate new supply and demand imbalances and trade without using any indicators, no news, no fundamental analysis, no earnings announcements, no volume or VSA analysis. Just supply and demand imbalances on PNC Financial Services.
Trading supply and demand imbalances is ideal for beginners and those with a full or half-time job, you won’t need to stay in front of the computer all day long trying to move price action with your mind.
As supply and demand traders, we do not need to pay attention to the news, fundamentals or any earnings reports. Once a big timeframe imbalance has gained control, earnings do just the opposite and react strongly to those imbalances. Why do you see positive earnings and then the underlying stock drops like a rock, or a negative earnings announcement and the stock rallies like a rocket out of control? You are probably missing the fact that there are big imbalances in gaining control.
Unless you are doing very short-term trading and scalping, you should not worry about fundamentals or earnings announcements for PNC Financial Services.
You can use these imbalances to plan your trades in lower timeframes. Trading is just waiting for the right trigger points and scenarios to present themselves, this game has got a name and it’s called the waiting game. We need to patiently wait for the correct scenarios and setups to happen and wait for the price to pull back or dip into the price levels we want to trade, in our case these price levels are made of supply and demand imbalances.
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