If history is any guide, there may be trouble ahead for shares of PNC Financial Services Gr (NYSE:PNC). A so-called "death cross" has formed on its chart and, not surprisingly, this could be bearish for the stock.
What To Know: Many traders use moving average crossover systems to make their decisions.
When a shorter-term average price crosses above a longer-term average price, it could mean the stock is trending higher. If the short-term average price crosses below the long-term average price, it means the trend is lower.
Why It's Important: The 50-day and the 200-day simple moving averages are commonly used.
The death cross occurs when the 50-day moves below the 200-day. This could mean the long-term trend is changing.
That just happened with PNC Financial Services Gr, which is trading around $184.59 at publication time.
Remember: Seasoned investors don't blindly trade Death Crosses.
Instead, they use it as a signal to start looking for short positions based on other factors, like price levels and company fundamentals & events.
For seasoned investors, this is just a sign that it might be time to start considering possible short positions.
With that in mind, take a look at PNC Financial Services Gr's past and upcoming earnings expectations:
| Quarter | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|
| EPS Estimate | 3.22 | 3.22 | 3.12 | 2.75 |
| EPS Actual | 3.68 | 3.75 | 4.50 | 4.10 |
| Revenue Estimate | 5.14B | 5.03B | 4.39B | 4.11B |
| Revenue Actual | 5.13B | 5.20B | 4.67B | 4.22B |
Also consider this overview of PNC Financial Services Gr analyst ratings:
Do you use the Death Cross signal in your trading or investing? Share this article with a friend if you found it helpful!
This article was generated by Benzinga's automated content engine and reviewed by an editor.
