PG&E is under massive headline pressure these days after being blamed for the recent California wildfires. The stock went down 60% recently and has rallied 50% off of its low of $17.26.
On Friday after the close, new headlines came out suggesting that PCG falsified gas pipeline safety records for years. Bankruptcy is definitely in the cards. When stocks become super weak and then bounce, they frequently 'bump their heads' into their 13-day EMAs. That's exactly where PCG sits right now.
There is a potential for a gap down on Monday given the news so be careful with this one, but the first line of support for PCG is not until $22.70, but it obviously can and likely will go lower.
Short PCG between $25-26.
Target 1: $22.70
Target 2: $18
Stop: $27.40
On Friday after the close, new headlines came out suggesting that PCG falsified gas pipeline safety records for years. Bankruptcy is definitely in the cards. When stocks become super weak and then bounce, they frequently 'bump their heads' into their 13-day EMAs. That's exactly where PCG sits right now.
There is a potential for a gap down on Monday given the news so be careful with this one, but the first line of support for PCG is not until $22.70, but it obviously can and likely will go lower.
Short PCG between $25-26.
Target 1: $22.70
Target 2: $18
Stop: $27.40
交易進行
I was able to sell a small amount of shares short @ 24.80.交易結束：目標達成
Target reached.註釋
Target 2 hit
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。