People’s United Financial, Inc. (PBCT) – next downward surge ahead?

ISIN: US7127041058

People’s United Financial, Inc. is a financial service company listed in the S&P 500 that is mainly active through the subsidiary company People’s United Bank. The company, founded in 1842 and with headquarters in Bridgeport, Connecticut, operates over 400 branches in the USA and is considered one of the biggest regional banks. In the following analysis, we will expand on the company stock from a technical perspective.

 

Review

In the daily chart, a significant downward trend formed in the first half of the year. The SMA 200, observed by big market participants, was also broken through downwards and tested from below with a slightly stronger correction. The rising volume in the downward movement that is currently restarting also speaks for the short idea.

 

PBCT daily chart with targets

PBCT daily chart with targets

 

Outlook

In the subordinate picture, the first signal has already formed in the form of a P2. In order to find a lucrative entry, one should wait for a correction into the area 17.40 – 17.60 USD, with a stop loss above the last high at 17.90 USD. Alternatively, one can also use a second P2 for an entry, with a stop loss at the the high that will have formed by then.

The following areas serve as target marks (green zones):

16.60 USD
15.50 USD
14.90 USD
14.00 USD

If the area around 18.10 USD (red line) is clearly and sustainably exceeded, then one should abandon the short scenario.

 

PBCT hourly chart with outlook

PBCT hourly chart with outlook

 

Before trading, one should pay attention to news in the environment and from the company. Similarly, one should also observe the overall market.

 

 

 

Neither the author nor our company is invested in the securities and underlyings discussed at the time of publishing this analysis.

Disclaimer:

Exchange transactions are associated with significant risks. Those who trade on the financial and commodity markets must familiarize themselves with these risks. Possible analyses, techniques and methods presented here are not an invitation to trade on the financial and commodity markets. They serve only for illustration, further education, and information purposes, and do not constitute investment advice or personal recommendations in any way. They are intended only to facilitate the customer’s investment decision, and do not replace the advice of an investor or specific investment advice. The customer trades completely at his or her own risk.

People’s United Financial, Inc. (PBCT) – next downward surge ahead?
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