Hello traders, in today’s stock of the day let’s take a closer look at PNC Financial Services, which is enjoying a very healthy uptrend. The chart tells a clear story — price action has been moving steadily higher, creating a sequence of higher highs and higher lows, a textbook bullish structure.
Currently, the price is trading comfortably above a key horizontal support, marked in green. This level has been tested and defended, reinforcing the strength of buyers at this zone. At the same time, PNC is finalizing a falling wedge formation marked with black lines. Falling wedges inside uptrends are typically bullish corrections, signaling that the market is preparing for another leg higher once the consolidation ends.
The reaction off the lower boundary of the wedge and the green support zone looks promising for buyers, adding fuel to the bullish case. The only minor caution comes from the fact that the price recently slipped below the red uptrend line. However, with the strong underlying momentum and current bullish sentiment, there is a good chance that PNC will reclaim this line soon, confirming that the uptrend remains fully intact.