PCG trade ideas
PCG Shortening + Long Strategy PotentialsRight now, I own some PCG stock so I may be bias, and as always nothing I say should be taking at face value. That being said, the negative correlations have to do with the PCG bankruptcy reports, as well as the time period going on (we are in the coronavirus era as we are seeing negative correlations). If you look at it from a simple "supply and demand" perspective, the demand for many utilities and gas is going down. This is especially true given many mandatory stay at home orders. People already known about PCG's bankruptcy timeline for a while now, and this was still when everyone was calling positives. I believe short term, it does have the potential of a breakout at $12, but there is also a negative long term potential as well. Business-wise and investment-wise, I am not sure it is looking good for PCG, and many other companies out are disrupting the industry.
Not looking good long term PT 5.00 Head and shoulders with long term bear flag. Loading puts. Also lots of Put volume coming in.
PCG LONG -- InvH&S and Upward GapFillingPCG is an overlooked stock which suffered serious reputational damage during the Northern California Fires, (for which they were blamed).
However the stock seems to have recovered and has quietly filled the gaping wounds from 6.15 to about 17.35; which is where it is at now. (I have marked the two major gaps with Blue Arrows).
It is also demonstrating a Classic Inverted Head and Shoulder Pattern and I would not be surprised if PCG were to close the gap between 20.20 and approximately 24, (which I have marked with an UpArrow).
It is currently facing Severe Resistance as it tries to move up.
The Stock is also relatively cheap.
There is a matter to keep in consideration in that the State of California is looking to nationalise this company, whereupon the stock would probably become worthless.
My people from South London, metaphorically speaking; all of whom I miss terribly. London Rules.
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PCG for a quick move hopefully!Hi PCG has formed a nice inverse head and shoulders and long term charts look good. I've entered long at 12.68 with a target of 13.95, which I don't think it will reach and I will end up closing manually. Earnings are right around the corner on Feb 6, so I would certainly not advise this if you are totally new to this. I don't hold through earnings anymore lol. A close eye will be kept on this one.
Add it to your watchlist, Two possible enteries.Support of the wedge or breakout ( and hold above 200 ma)
PCG - WEEK CHARTHi, today we are going to talk about Pacific Gas & Electric and its current landscape.
PG&E is poised to receive increasing attention from the market as relevant events are taking place. Early this year the company has filed for bankruptcy after been buried in processes over claims that a series of deadly wildfires on California was started by its equipment in 2017 and 2018, despite the company has reached settlements to extinguish this fire, and was starting to look ready to thrive again as the bankruptcy could bring some relief. However, now the California Governor Gavin Newsom stands on the path of the PG&E bulls, as the Governor rejected the bankruptcy reorganization proposal of the company. With this context in mind is hard to see the light for PG&E now, but if they manage to move with the bankruptcy process forward, the company might have hope to rebound.
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Alex Vieira Releases New Plan for PCG Sell & Go ShortFor those interested, you have Alex's real-time calls on video available on the web, however, the link cannot be posted here due to tradingview TOS
i38.PCGBeta-R:Journal. Risk Management: Compound .Level : PA . Time: Short-term - Intermediate . This is just my view follow if it aligns with yours. Ideas are not repeated rather updated.Worry about risk only.
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PCG $12.5 pre-market!!!!!!!
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