PNC Financial Services Aiming For Reaction To The Upside

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Elliottwave_Forecast
04-02

PNC Financial Services (NYSE: PNC) is down more than 20% in the recent 4 months. Investors are looking for clues into the current decline to prepare a plan for the next move. We’ll use the Elliott Wave Theory to define the technical structure and understand the potential path.

Since December 2024 peak, PNC is showing a clear 3 swings decline and we can define it as an Elliott Wave Zigzag structure. Wave ((A)) ended in 12.20.2024 at $185, wave ((B)) ended in 1/29/2025 at $205 and the wave ((C)) remains in progress. In other words, the current move to the downside is corrective and it’s still expected to end wave (5) of ((C)) at the equal legs with the Blue Box area $170.68 – $149.25.

PNC 4 Hour Elliott Wave Chart

The blue boxe in the above charts is a High-frequency area where the market is likely to end the current cycle and make a turn. Consequently, we expect PNC to react to the upside as buyers will be looking for the trend to resume or will be looking for a 3 waves bounce at least.

In conclusion, PNC is showing a corrective decline and we only recommend buying the pullback in 3 , 7 or 11 swings as we expect a reaction higher to take place in the second quarter of this year.

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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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