In the wake of the SVB collapse, most banks took a hit as investor worry around this spreading to other banks increased dramatically. This made the entire financial sector look weak and take a nose dive. However, this dramatic decline has led to many other opportunities to crop up, we will take a look at one today.
PNC (PNC) established a pretty strong trendline at around 147 that it held for months, until recently. Even before the banking failure, the stock looked weak. Then, the banking collapse happened and that sent the stock reeling. It fell all the way to a low of 124 before finding a bottom, now we think there could be an opportunity to play the rebound if the space continues to recover.
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