MetLife Inc Stock Code MET.NYS
Outlook
Price tested the cloud 2 days ago. While it managed to move above the thin section of the cloud, a Doji candlestick hinted of an inability to cross over the cloud. Yesterday, we saw a black candle that moved below the Doji and in the process, formed an Evening Star candlestick reversal pattern. The Doji high of $48.92 is just above the Fibonacci 62% of the decline from a high of $51 to the low of $43.34. MACD is bearish at the moment. The faster line of the MACD indicator is just above the zero line but the slower line is deep below the zero line. We prefer to follow the slower line and use the faster line as a signal to sell. We think price could be moving lower to $45.25.
Strategy
$47.50 Short Sell
$45.25 Price Target
$48.50 Risk Management Stop
2 weeks Trade Duration
PNC Financial Services Group Inc. Stock Code PNC.NYS
Outlook
Price moved above the cloud 2 days ago and Conversion and Base lines both had a bullish crossover, confirming the bullish trend. Conversion line is rising steeply, which is a good sign while Base line is turning up. Yesterday, we saw a strong white candlestick that engulfed the previous day’s candle. This bullish Engulfing candlestick pattern is another bullish confirmation of the uptrend. Price also managed to stay above a gap that was created 2 trading days ago. As long as price stays above this gap, the uptrend is likely to continue. MACD is rising but while the faster line is above the zero line, the slower line could be about to cross above the zero line.
Strategy
$139.00 Buy
$144.40 Price Target
$135.40 Risk Management Stop
3 weeks Trade Duration
