Moving Average Analysis of PNC

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From the Weekend Report 11/5/2010: After increasing the spread over the week, PNC is now 1.00 % above the 200 session Simple Moving Average.

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Different ways of averaging are tested on PNC stock prices for their ability to predict trend movements. An infinite selection of moving average techniques is available, including but not limited to moving weighted and exponentional averages and MACD indicators of various flavors.

Unfortunately, some of the most popular indicators of this type can prove to be the worst forcasting indicators. The next page tests the effectiveness of these methods as predictors of future prices for PNC.

Red is the 200 bar SMA and Green is the 20 bar average. The Simple Moving Averages above are un-weighted. While unsophisticated, they frequently yield better results than some of the more highly tuned methods examined in following sections. It is always possible to fine tune an exponential or other weighted average so that it seems to outperform a simple average in a given situation. However, over-tuning can increase false and misleading indicators. Norman G. Fosback has noted that legitimate signals of this sort will normally be evident through a variety of averaging methods.

Moving Average Convergence of PNC Financial Services

	Companies In the News
	In the news, Monday, November 15, 2010: A favorable condition has developed with Sprint Nextel Corporation, ticker symbol S. Also, there are breaking events concerning Abbott Laboratories (ABT) and Cree, Inc. (CREE)

MACD analysis can use any of an infinite number of averaging methods and coefficients. Also, many analysts add a trigger line which is based on some average of the first two averages. Here we depict the results of 12 and 26 session Exponential Moving Averages. The exponential coefficient used here is .18. There is nothing magic about these parameters, but these are frequently seen.

Float the cursor for a longer term chart.

Moving Average Convergence Divergence, or MACD, produces buy or sell signal that are color tinted here.

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Moving Avg. 20/200 Divergence	Signaled Appreciation minus non-signaled Appreciation	Annualized %
Buy Signals - 21 instances
Future30SesAvgClose	-1.25 % minus 1.01 % = -2.26 %	-19.12 %
Future5SesAvgClose	-0.45 % minus 0.21 % = -0.66 %	-33.38 %
Future2SesAvgClose	-0.41 % minus 0.11 % = -0.52 %	-65.67 %
Sell Signals - 20 instances
Future30SesAvgClose	-2.60 % minus 1.01 % = -3.61 %	-30.54 %
Future5SesAvgClose	-1.18 % minus 0.21 % = -1.39 %	-70.49 %
Future2SesAvgClose	-0.84 % minus 0.11 % = -0.95 %	-120.14 %
	.
Moving Avg. 5/20 Divergence	Signaled Appreciation minus non-signaled Appreciation	Annualized %
Buy Signals - 159 instances
Future30SesAvgClose	0.84 % minus 1.01 % = -0.16 %	-1.36 %
Future5SesAvgClose	0.20 % minus 0.21 % = -0.01 %	-0.37 %
Future2SesAvgClose	0.00 % minus 0.11 % = -0.10 %	-13.19 %
Sell Signals - 158 instances
Future30SesAvgClose	0.86 % minus 1.01 % = -0.14 %	-1.20 %
Future5SesAvgClose	0.25 % minus 0.21 % = 0.05 %	2.31 %
Future2SesAvgClose	0.29 % minus 0.11 % = 0.18 %	23.15 %
	.
Moving Avg. 5/200 Divergence	Signaled Appreciation minus non-signaled Appreciation	Annualized %
Buy Signals - 40 instances
Future30SesAvgClose	-0.67 % minus 1.01 % = -1.68 %	-14.21 %
Future5SesAvgClose	-0.66 % minus 0.21 % = -0.86 %	-43.88 %
Future2SesAvgClose	-0.36 % minus 0.11 % = -0.46 %	-58.81 %
Sell Signals - 39 instances
Future30SesAvgClose	-1.29 % minus 1.01 % = -2.29 %	-19.42 %
Future5SesAvgClose	-0.23 % minus 0.21 % = -0.44 %	-22.53 %
Future2SesAvgClose	-0.15 % minus 0.11 % = -0.26 %	-32.82 %
	.
MACD 12/26 Divergence	Signaled Appreciation minus non-signaled Appreciation	Annualized %
Buy Signals - 542 instances
Future30SesAvgClose	0.99 % minus 1.01 % = -0.01 %	-0.09 %
Future5SesAvgClose	-0.01 % minus 0.21 % = -0.21 %	-10.90 %
Future2SesAvgClose	-0.04 % minus 0.11 % = -0.14 %	-18.18 %
Sell Signals - 542 instances
Future30SesAvgClose	1.01 % minus 1.01 % = 0.01 %	0.07 %
Future5SesAvgClose	0.10 % minus 0.21 % = -0.11 %	-5.72 %
Future2SesAvgClose	0.00 % minus 0.11 % = -0.10 %	-13.16 %
	.
MACD 12/26 Signal	Signaled Appreciation minus non-signaled Appreciation	Annualized %
Buy Signals - 725 instances
Future30SesAvgClose	0.83 % minus 1.01 % = -0.18 %	-1.49 %
Future5SesAvgClose	0.11 % minus 0.21 % = -0.10 %	-5.23 %
Future2SesAvgClose	0.01 % minus 0.11 % = -0.10 %	-12.46 %
Sell Signals - 724 instances
Future30SesAvgClose	0.71 % minus 1.01 % = -0.30 %	-2.53 %
Future5SesAvgClose	0.16 % minus 0.21 % = -0.05 %	-2.41 %
Future2SesAvgClose	0.05 % minus 0.11 % = -0.05 %	-6.62 %
	.
Calibrated M by Q Half Cycle Moving Avg.	Signaled Appreciation minus non-signaled Appreciation	Annualized %
Buy Signals - 311 instances
Future30SesAvgClose	1.00 % minus 1.01 % = -0.01 %	-0.08 %
Future5SesAvgClose	0.30 % minus 0.21 % = 0.09 %	4.75 %
Future2SesAvgClose	0.11 % minus 0.11 % = 0.00 %	0.32 %
Sell Signals - 310 instances
Future30SesAvgClose	1.04 % minus 1.01 % = 0.04 %	0.30 %
Future5SesAvgClose	0.32 % minus 0.21 % = 0.11 %	5.62 %
Future2SesAvgClose	0.17 % minus 0.11 % = 0.06 %	8.01 %
	.
Calibrated M by Q Full Cycle Moving Avg.	Signaled Appreciation minus non-signaled Appreciation	Annualized %
Buy Signals - 224 instances
Future30SesAvgClose	1.53 % minus 1.01 % = 0.53 %	4.45 %
Future5SesAvgClose	0.28 % minus 0.21 % = 0.08 %	3.81 %
Future2SesAvgClose	0.12 % minus 0.11 % = 0.01 %	1.59 %
Sell Signals - 225 instances
Future30SesAvgClose	1.97 % minus 1.01 % = 0.97 %	8.21 %
Future5SesAvgClose	0.60 % minus 0.21 % = 0.39 %	19.65 %
Future2SesAvgClose	0.37 % minus 0.11 % = 0.26 %	33.55 %
	.
Projected Crossing of SMA 20/200.	Signaled Appreciation minus non-signaled Appreciation	Annualized %
Buy Signals - 28 instances
Future30SesAvgClose	-0.20 % minus 1.01 % = -1.20 %	-10.19 %
Future5SesAvgClose	0.20 % minus 0.21 % = -0.01 %	-0.26 %
Future2SesAvgClose	0.00 % minus 0.11 % = -0.10 %	-13.26 %
Sell Signals - 29 instances
Future30SesAvgClose	-0.99 % minus 1.01 % = -1.99 %	-16.89 %
Future5SesAvgClose	-0.22 % minus 0.21 % = -0.43 %	-21.79 %
Future2SesAvgClose	-0.26 % minus 0.11 % = -0.37 %	-46.53 %
	.
Projected Crossing of SMA 5/20.	Signaled Appreciation minus non-signaled Appreciation	Annualized %
Buy Signals - 192 instances
Future30SesAvgClose	0.95 % minus 1.01 % = -0.06 %	-0.47 %
Future5SesAvgClose	0.29 % minus 0.21 % = 0.08 %	3.91 %
Future2SesAvgClose	0.19 % minus 0.11 % = 0.09 %	11.13 %
Sell Signals - 161 instances
Future30SesAvgClose	1.12 % minus 1.01 % = 0.11 %	0.94 %
Future5SesAvgClose	-0.09 % minus 0.21 % = -0.29 %	-14.96 %
Future2SesAvgClose	-0.05 % minus 0.11 % = -0.16 %	-20.36 %
	.

The best buy signal for 30 future sessions was 0.53 % from the Calibrated M by Q Full Cycle Moving Avg.,and the best sell signal for was -3.61 % from the Moving Avg. 20/200 Divergence.

For 5 future sessions the best buy signal was 0.09 % from the Calibrated M by Q Half Cycle Moving Avg.,and the best sell signal was -1.39 % from the Moving Avg. 20/200 Divergence.

The best buy signal for 2 future sessions was 0.09 % from the Projected Crossing of SMA 5/20.,and the best sell signal was -0.95 % from the Moving Avg. 20/200 Divergence.

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