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
