PNC Description — PNC Financial Services Group (The)
The PNC Financial Services Group is a bank holding company. Co. is engaged in retail banking, corporate and institutional banking, asset management, and residential mortgage banking. Co.'s primary geographic markets are located in Pennsylvania, Ohio, New Jersey, Michigan, Illinois, Maryland, Indiana, North Carolina, Florida, Kentucky, Washington, D.C., Delaware, Alabama, Virginia, Georgia, Missouri, Wisconsin and South Carolina. Co. has six segments: retail banking, corporate and institutional banking, asset management group, residential mortgage banking, BlackRock, and non-strategic assets portfolio. At Dec 31 2012, Co. had total assets of $305.11 billion and deposits of $213.14 billion.
Since topping out in April 2010, PNC Financial Services Group (NYSE: PNC) has basically treaded water, continually failing to break past a key line of resistance around the $67-$68 area. But that looks like it's about to change.
During the past 12 months, pullbacks from the resistance area have become shallower, and subsequent reversals back up to resistance have steepened. This indicates that the stock is finally ready to shoot past this wall of resistance and go roughly 10%-20% higher over time.
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